By: E&P Staff Dow Jones & Co. reported that revenue for Q2 increased 3.7% to $454.2 million compared to the same period last year. Operating income fell 30.9% to $38.9 million. Excluding special items, operating income declined 10.7%, mainly due to profit declines in the company's Print Publishing segment.
"Our results continue to be adversely affected by declines in B2B advertising in our Print Publishing segment, a situation we see improving in the third quarter 2005," Peter Kann, chairman and CEO of Dow Jones, said in a statement.
"Meantime, we remain focused on executing exciting initiatives such as our acquisition and integration of MarketWatch and the September 17th launch of the Weekend Edition of The Wall Street Journal -- both of which are tracking ahead of expectations. In addition, we continued to control costs and announced the repositioning of our international print and online editions and exit from our CNBC international television partnership."
Print Publishing revenue dropped 7.2% to $235.5 million and operating income was down 58.2% due to a decline in advertising revenue. Advertising linage at The Wall Street Journal fell 6.3% (down 11.7% in June).
Electronic Publishing revenue grew 33.5% to $128.4 million, driven by the acquisition of MarketWatch.
Otttaway Newspapers revenue increased 2.8% to $90.3 million. Advertising linage decreased 0.1% (up 0.5% in June).
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