Earnings: AH Belo Q2 Revs Down 15 Percent; Swings To Loss; Internet Revenue Falls 11 Percent
This story was written by Joseph Weisenthal.
Following Friday's report from sibling broadcaster Belo Corp (NYSE: BLC). the newly separate AH Belo (NYSE: AHC) newspaper publisher reported earnings this morning: The publisher of the Dallas Morning-News and two other papers said revenue in Q2 fell a steep 15 percent to $163.3 million, as ad revenue was down 21 percent. Not surprisingly, classifieds were the worst performer. Net income swung to a loss of $3.2 million ($.16 per share) from $12.3 million ($.60 per share). Internet revenue stood at $12 million or 7.4 percent of the total. However the company doesn't say whether internet revenue is up or down from last year. For that you have to go to last year's report to see that online revenue was $13.6 million. So in fact, internet revenue fell about 11 percent. It's also worth pointing out that last year, internet revenues were up 19 percent, and in that period they bothered to mention the growth figure.
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By Joseph Weisenthal