By: Washington Post Co. said Friday its first-quarter profit rose 16 percent as revenue increased.
Earnings after preferred dividends rose to $76.4 million, or $7.95 per share, up from $66.1 million, or $6.87 per share, a year earlier. Revenue grew 14 percent to $948.3 million from $833.9 million.
The latest results included a 53-cent-per-share charge from accounting related to stock-based compensation, while the year-ago period included gains of 56 cents per share from land and securities sales.
Analysts expected Washington Post to report a profit of $7.19 per share on revenue of $913.1 million, according to Thomson Financial.
Newspaper publishing division revenue totaled $243.5 million for the first quarter of 2006, a 4 percent increase from the first quarter of 2005. Revenue for the magazine publishing division totaled $74.8 million, up 7 percent from $69.9 million a year earlier.
Revenue for the broadcast division rose 8 percent to $85.9 million from $79.3 million. Cable division revenue of $135.2 million was up 7 percent.
Education division revenue totaled $408.9 million, a 26 percent increase over revenue of $325.4 million for the first quarter of 2005.
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