Knight Ridder Profit Rises on Cost Cuts
Enviado: 16/7/2003 11:58Reuters
Knight Ridder Profit Rises on Cost Cuts
Wednesday July 16, 6:38 am ET
NEW YORK (Reuters) - Knight Ridder Inc. (NYSEKRINews), the No. 2 U.S. newspaper publisher by circulation, on Wednesday posted a stronger second quarter profit, helped by cost cuts as its advertising revenue still felt the effect of the sluggish economy.
The company, which publishes the San Jose Mercury News, the Philadelphia Inquirer and the Miami Herald, posted a profit of $77.2 million, or 95 cents a share, compared with $76.8 million, or 90 cents a share.
A month ago, it said it expected its earnings to be in the low to mid 90-cent range.
Revenue rose 0.9 percent to $721.6 million from $715.1 million.
Knight Ridder Profit Rises on Cost Cuts
Wednesday July 16, 6:38 am ET
NEW YORK (Reuters) - Knight Ridder Inc. (NYSEKRINews), the No. 2 U.S. newspaper publisher by circulation, on Wednesday posted a stronger second quarter profit, helped by cost cuts as its advertising revenue still felt the effect of the sluggish economy.
The company, which publishes the San Jose Mercury News, the Philadelphia Inquirer and the Miami Herald, posted a profit of $77.2 million, or 95 cents a share, compared with $76.8 million, or 90 cents a share.
A month ago, it said it expected its earnings to be in the low to mid 90-cent range.
Revenue rose 0.9 percent to $721.6 million from $715.1 million.