Dow Jones: WSJ's Print Ad Revenue Sluggish, But Profits Beat Estimates

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Income Rises at Dow Jones; Journal’s Ads Are Weaker [New York Times]

Summary: Third-quarter profit increased 57% at Dow Jones & Co., beating analyst estimates by a penny. Backing out a $0.09/share tax gain and a $0.01/share cost for job cuts, DJ earned $0.11/share versus $0.12 last year. Revenue grew 3.8% to $412.4 million, but missed analysts' estimates of $442.8 million. An analyst at Benchmark in NY commented, "It was not a good quarter for The Wall Street Journal, and that follows the trend of the industry." A potential positive development is its complete acquisition of Factiva from Reuters. Online advertising revenue grew 12.4%, compared to 0.3% for advertising in The Wall Street Journal print edition.
Related links: Dow Jones: Maybe Our Online Business is Part of Yahoo's Problem • Q3 2006 Earnings Press Release [Dow Jones, .pdf] • Reuters Reports Beat Quarter, Sells Factiva To Partner Dow Jones • Seeking Alpha's Coverage of Newspaper Stocks • Conference call transcript: Dow Jones Q3 2006 • Gannett Q3 2006
Potentially impacted stocks and ETFs: Dow Jones & Co (DJ)

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