posted a higher profit against year-earlier results that included a big charge, but the media conglomerate's revenue dropped amid continued weakness in advertising.
Tribune's net income for the quarter totaled $164.3 million, or 65 cents a share, up from $24 million, or 7 cents a share, a year earlier.
Both quarters included one-time items. The most recent period was aided by a gain of 22 cents a share related to its transaction with Times Mirror. The year-ago quarter included a loss of 43 cents a share related to an adverse tax ruling.
Tribune's operating revenue declined 2.5% to $1.35 billion from $1.38 billion last year. Analysts polled by Thomson First Call anticipated revenue of $1.375 billion.
The company, which owns papers such as the
Los Angeles Times
, said revenue in its publishing division dropped 2% to $956 million, with a 2% drop in ad revenue. Tribune's broadcast and entertainment division saw a 3% drop in revenue to $393 million.
After a turbulent year and public pressure from its largest shareholder, the Chandler family, Tribune last month said it plans to explore strategic alternatives. A decision on the move, which could include the sale of assets or an outright company sale, is expected by the end of the year.