Belo Q2 Profit Takes a Tumble

Jul 22, 2005  •  Post A Comment

Belo said Friday that the lack of significant political advertising revenue pushed second-quarter profit down 8 percent, though several new initiatives, including online advertising, helped to offset the shortfall.

The Dallas-based newspaper and television broadcaster saw its second-quarter profit slip to $41.9 million, compared with a year-earlier figure of $45.6 million. Revenue declined nearly 1 percent to $388.8 million.

The company’s 19 television stations saw revenue decline 4 percent, in large part due to the slowdown in political advertising spending in the quarter. Political spending sank to $1.9 million from a year-ago figure of $7.5 million. Local and national spot advertising revenue also fell, with local dipping 0.2 percent, while national fell more than 2 percent.

However, one bright spot was advertising revenue at Belo’s station Web sites, which surged 41 percent.