Dow Jones Operating Profit, Ad Revenue Rises
Media company Dow Jones reported a rise in first-quarter operating income that beat the market's expectations Friday, citing strength in its online business and its ability to control costs.
Dow Jones said it earned $20.5 million, or 24 cents a share, excluding special items, in the first quarter, up from $11.4 million, or 14 cents a share, in the first quarter of 2006.
Revenues rose nearly 18% from the year-ago period to $507.2 million.
Analysts surveyed by Thomson Financial predicted earnings of 19 cents a share, with revenues of $508 million.
Advertising revenue in its consumer media business rose 1.7% from the year-ago period. Online ad revenue gained 30%, but ad revenue at the U.S. Wall Street Journal fell 1.8%.