Graham Holdings Q1 Net Profit Soars - Quick Facts

(RTTNews) - Graham Holdings Co. (GHC) Friday reported first-quarter net earnings that increased significantly, helped by proceeds from sale of the company's headquarter building and higher revenues.

For the first quarter, net earnings surged to $132.09 million or $17.79 per share, from $4.72 million or $0.64 per share a year ago. Quarterly results included a $127.7 million gain, before tax, on the sale of the headquarters building.

Excluding certain items, earnings for continuing operations were $48.84 million or $6.47 per share, compared with $30.78 million or $4.18 per share a year earlier.

Revenue for the 3-month period increased to $840.56 million from $820.59 million a year earlier. While television broadcasting and cable divisions saw growth in revenues, the education division's revenues were flat with last year.