The Washington Post Co (NYSE: WPO). has announced Q4 revenue of $1.1 billion, up 8 percent year-on-year from $1.04 billion. Net income was down 13 percent to 82.9 million from $95.5 million, however the past quarter included a one-time gain on an asset sale. Newspaper publishing revenue slipped 6 percent in the quarter to $232.6 million. This was largely attributable to a 13 percent decline in print advertising, offset partly by a 12 percent increase in revenue at Washingtonpost.com to $33.7. Other highlights:
– Display online advertising at Washingtonpost.com was up 15 percent in the quarter, while online classifieds were up 10 percent.
– Cable revenue grew 12 percent to $165.3 million, with subscriber growth seen in telephony and high speed data.
– The Kaplan education unit remains the big driver for the company, with revenue of $537 million, 21 percent higher than in the year-ago period. However, without acquisitions, education revenue would have grown 13 percent.
– Magazine revenue declined to $91.3 million from $96 million.