Reply #76: Sector Snap: Newspaper shares rise on profits

[citizen snips]

NEW YORK (AP) -- Shares of newspaper companies rose Wednesday, helped by a series of positive quarterly results.

In the most recent round of financial reporting, publishers have generally shown that they can cut enough costs to deal with drastic declines in ad revenue. Many say they see things trending in the right direction despite an uncertain economy and online competition for ad dollars.

Washington Post Co. shares rose $9.60, or 2.3 percent, to $422.11 after the company said fourth-quarter earnings quadrupled. The company had sharply lower one-time costs than in the same quarter a year ago and also got a boost from revenue growth in its education and Cable TV divisions.

A.H. Belo Corp., which owns The Dallas Morning News and other newspapers, also posted a fourth-quarter profit Wednesday, reversing last year's loss. It earned $5.7 million despite a 15 percent decline in revenue. Shares rose 70 cents, or 11.7 percent, to $6.70 in afternoon trading.

more...
http://finance.yahoo.com/news/Sector-Snap-Newspaper-shares-apf-1349533692.html?x=0