Dow Jones & Company
Tuesday beat analysts' first-quarter earnings estimates, led by higher advertising revenue at its flagship newspaper,
The Wall Street Journal
Excluding items, the company earned $17.8 million, or 22 cents a share, on revenue of $401.6 million, compared with $66.9 million, or 12 cents a share, on revenue of $358.2 million a year ago.
The consensus forecast was for 20 cents a share, according to Thomson First Call. Earnings in the year-ago period were affected by special items amounting to a gain of 70 cents a share.
The New York-based company said ad linage for the
U.S edition rose 6.3%. Revenue rose 10.8% in print publishing and 9.1% in electronic publishing.
Dow Jones also said that it expects second-quarter EPS before items to be in the mid-30-cents-a-share range compared with 27 cents a share a year ago. The consensus forecast is for 36 cents a share.
Shares closed at $48.95 Monday.