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NEWS

11:20 PM, 2 May 2008

Washington Post quarterly profit falls

Reuters

NEW YORK -- Washington Post Co posted a lower quarterly profit as it took a charge for an early retirement program at its Newsweek magazine.

First-quarter net income fell to $US39.3 million, or $US4.08 a share, compared with $US64.4 million, or $US6.70 a share, a year earlier.

Results for the latest quarter included a $US1.60 per share charge, after tax, for the Newsweek-related expenses.

Revenue rose 8 per cent to $US1.06 billion.


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