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Ad gains help boost Dow Jones' earnings

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New York--Fueled by increases in advertising lineage at its flagship, The Wall Street Journal, Dow Jones & Co. Wednesday reported strong gains in earnings for the fourth quarter and for all of 1999. The company reported net income of $272.4 million for the year, compared with $8.4 million in 1998. For the fourth quarter, Dow Jones recorded net income of $60.9 million, after a charge for the disposition of the company's IDD Enterprises subsidiary. For the year, revenue increased 9.8% on a pro forma basis, to $2.06 billion, and rose 19.3% to $586.7 million in the fourth quarter. For the year, advertising lineage in The Wall Street Journal climbed 17.9%; for the fourth quarter lineage grew 36.3%. Additionally, subscribers to wsj.com, the Interactive Journal, increased to more than 375,000.
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