This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Washington Post Up on Education, Ads

WASHINGTON ( TheStreet) -- The Washington Post (WPO) saw third-quarter earnings skyrocket due to revenue gains in its education division as well as a recovery in the advertising market at its newspaper division.

For the quarter ended October 3, the company saw earnings spike to $60.9 million, or $6.84 per diluted share, compared with earnings of $17.1 million, or $1.81 per diluted share, in the same period a year ago.

Revenue rose 7.3% to $1.19 billion from $1.11 billion during the quarter due to gains in its education, television broadcasting and newspaper publishing segments.

Education division revenue was up 9% to $743.3 million from $684.5 million, primarily due to the triple digit gain in Kaplan operating income to $99.1 from $45.9 million.

In July, the U.S. Department of Education proposed new regulations that require for-profit institutions to better prepare students for "gainful employment" or they run the risk of losing access to federal student aid.

In response to federal government pressures, Kaplan introduced the "Kaplan Commitment," a program that allows prospective students to attend the first few class sessions of a new course to assess whether they want to enroll.

"The company expects that this regulation if enacted as proposed would significantly impact Kaplan's operating results as some or all institutions owned by Kaplan might be required to limit program offerings to ensure compliance with the restrictions of the proposed gainful employment rule," its third quarter earnings report said.

The Education Department plans to issue the final rules early next year, and intends for the regulations to go into effect starting on July 1, 2012.

Revenue from its newspaper division rose 5% to $163.4 million from $156.3 million. The gain was driven by a 3% increase in print advertising revenue at The Washington Post to $72.0 million from $70.0 million.

Revenue from its online newspaper publishing activities, primarily Washingtonpost.com and Slate, was up 21% to $27.2 million from $22.6 million. Display online advertising revenue grew 26% and online classified advertising revenue on Wwashingtonpost.com increased 6%.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
WPO $699.00 -1.24%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs