Magazine article Editor & Publisher

Dow Jones Reports Profit Down, Income Up

Magazine article Editor & Publisher

Dow Jones Reports Profit Down, Income Up

Article excerpt

Dow Jones & Co., which is considering a bid to be bought by Rupert Murdoch's News Corp., reported lower second-quarter profits Thursday due to an accounting charge, but revenues and operating income rose.

The company, which publishes The Wall Street Journal, Barron's, Dow Jones Newswires and a group of stock market indicators, earned $21 million or 25 cents per share on a net basis in the three months ending in June, down from $28.8 million or 34 cents per share, in the same period a year ago.

Excluding one-time charges and other non-operating effects in both periods, operating income rose 28.2 percent to $66.3 million from $51.7 million in the same period a year ago, driven partly by the acquisition of the other half of Factiva, a news database business, that it didn't already own.

The company said it recorded a charge in the second quarter of 13 cents related to additional stock-based compensation costs due to the sharp increase in the value of its shares since News Corp. …

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