Washington Post Co on Friday said quarterly profit fell 7 percent, missing analysts' estimates, as higher costs weighed on its newspapers and its television unit suffered from less political advertising.
The publisher of The Washington Post newspaper and Newsweek magazine said second-quarter profit fell to $78.8 million, or $8.16 a share, from $84.9 million, or $8.82 a share, a year earlier.
The earnings came in well below the average forecast of $9.64 a share among analysts polled by Reuters Estimates.
After the earnings report, the company's shares fell nearly 5 percent.
Revenue was $897.6 million, up 10 percent from $818.4 million a year earlier, helped by stronger results in the educational division.
But income declined in the Washington Post's newspaper, cable and television units.
With higher newsprint and payroll costs, newspaper division operating income declined 28 percent.
The absence of significant political advertising revenue drove operating income in the television unit down 6 percent to $41.1 million.
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