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Dow Jones reports earnings drop

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New York--Still smarting from declining ad revenues, Dow Jones & Co. Inc. on Thursday reported a sharp decline in second-quarter earnings. The results, which exceeded analysts' expectations, were also weighed down by charges related to a string of job cuts and other cost-cutting measures. Net income for the period fell 57% to $43.2 million, or 50 cents a diluted share, from $100.6 million, or $1.13 a share, a year earlier. Analysts surveyed by Thompson Financial/First Call expected Dow Jones to post earnings, excluding items, of 47 cents a share.
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