The US publishing giant, Dow Jones, announced yesterday that quarter one 2004 revenues were up 12.1% to $401.6 million, backing recent opinion that the advertising market recovery is well underway.
Dow Jones’ flagship paper,
The Wall Street Journal, led the way by posting advertising revenues up by 6.3% when compared to the first quarter of 2003.
Operating income rose by 92% to $33.8 million, compared to $17.6 million in 2003. Excluding special items, operating income was up 76% from the same period last year with operating margins of 7.7% in 2004 compared to 4.9% in 2003.
Peter Kann, chairman and chief executive officer of Dow Jones said: “We are pleased with the progress we made in the quarter. Financially, the combination of a moderately improved advertising environment and major operational improvements, have enabled us to post healthy gains in revenue and profit.”
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