A much smaller A. H. Belo following sale of The Providence Journal reports Q3 earnings
The publisher of The Dallas Morning News, A. H. Belo Corporation today reported third quarter 2014 earnings. The publisher said it had net income from continuing operations of $2.3 million, an increase compared to net income from continuing operations of $0.5 million from a year ago. The publisher recently sold The Providence Journal, and also received $3.5 million of income from the dissolution of its interest in Classified Ventures.
We are pleased with progress made towards our Dallas-based strategy in the third quarter of 2014. The completion of the sales of The Providence Journal in the third quarter and Classified Ventures in the fourth quarter are key components in the successful execution of this strategy,” Jim Moroney, chairman, president and Chief Executive Officer, said.
Total revenue for the quarter fell 2.3 precedent to $65.9 million, though the publisher was able to report that digital revenue grew 9.6 percent, and now accounts for 22 percent of all advertising and marketing revenue.