Washington Post Profit Falls 67% as Kaplan Enrollment Drops
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Washington Post Co. said first-quarter profit fell 67 percent after revenue declined in its Kaplan education unit, which has come under government scrutiny.
Net income dropped to $15.2 million, or $1.87 a share, from $45.4 million, or $4.91, a year earlier, the Washington-based company said today in a statement. Revenue declined 6.9 percent to $1.06 billion.