Washinton Post: Profit slumped significantly
In the second quarter of this year, The Washington Post Company's profits plummeted by 50 percent. The sharp decline in advertising revenue is one reason for the poor results
In the three months to the end of June, profits amounted to just 45.6 million dollars, compared to 91.9 million in the same quarter of the previous year. This was announced by the company according to the Guardian. Advertising revenue from the print section of the Washington Post fell by twelve percent to 66.6 million dollars. Advertising revenues from the digital business, primarily at Washingtonpost.com and the online magazine Slate, fell by 13 percent to 23.4 million dollars.
