Education remained the growth driver in Q4, with revenues up 21%, while overall revenues gained 8% to 1.13 billion. However, earnings per share fell to 8.71 and came in under the Wall Street consensus of 8.85.
We would note, though, that very few analysts actively follow the company and the Thomson/First Call consensus was an average of estimates from only two analysts. The Washington Post Company does not conduct a quarterly conference call.
Q4 television revenues were down 11% to 93.5 million, due to the lack of political advertising. Operating income declined 17% to 41.5 million.
For the company’s other advertising-supported media operations, Q4 revenues were down 6% for newspaper publishing and 5% for magazine publishing.