Associated Press Posts First Revenue Gain in 6 Years

by: Press Release | AP

The Associated Press boosted its revenue for the first time in six years in 2014, benefiting from special events and improved licensing of photo and video content, and the news cooperative said Wednesday that its profit soared.

 

Revenue grew 1 percent to $604.0 million, up from $595.7 million the previous year. Profit rose to $140.9 million, its highest level since 2009, up sharply from $3.3 million a year earlier. The bump came largely from the sale of its 50 percent stake in sports data company Stats LLC, which brought in $128.3 million for AP, the company said in its annual report.

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