reiterated second-quarter earnings guidance Friday, citing better-than-expected results in its newswire division and lower costs.
The publishing company expects to report earnings in the low- to mid-30 cents a share range for the quarter. Analysts surveyed by Thomson First Call were forecasting earnings of 35 cents a share in the period.
Dow Jones also said advertising revenue at its flagship
Wall Street Journal
newspaper rose 10.1% in May, thanks to a 12.6% rise in volume. All of the company's other newspaper divisions, which include international,
and Dow Jones' Ottaway group, saw advertising revenue decline.
"Through the end of May, second quarter to date advertising revenue at the
was up a solid 9.2%. Because of our positive outlook for June together with stronger-than-expected revenue and profit growth in our Enterprise Media Group and favorable expense performance, we expect to meet our second-quarter outlook for earnings per share before special items."
Dow Jones' stock closed $34.72 Thursday.