Washington Post Co. earnings tumble 50% in second quarter

Washington Post release
Washington Post Co. posted net income of $45.6 million, compared with net income of $91.9 million a year earlier. The newspaper division reported a $2.9 million operating loss, compared to a loss of $14.3 million in last year’s second quarter. Revenue was down at the education division, while revenues were up at the television broadcasting and cable television divisions.
* The Kaplan division reported second quarter 2011 operating income of $20.5 million, down from $112.4 million in the second quarter of 2010.
* For the first six months of 2011, Washington Post daily and Sunday circulation declined 4.5 percent and 4.1 percent, respectively, compared to the same periods of the prior year. || Earnings Cheat Sheet: Washington Post Co. bad luck continues.