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Dow Jones reports higher Q4 revenue, earnings

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New York--Dow Jones & Co. reported Tuesday that 2003 fourth-quarter revenue rose 6% to $420.7 million, thanks largely to an 8.1% increase in advertising volume at The Wall Street Journal in the U.S.

Dow Jones said it earned 54 cents per diluted share during the fourth quarter, compared with 18 cents per diluted share in the fourth quarter of 2002, including special items in both quarters.

For all 2003, the company’s revenue dipped less than 1% to $1.55 billion. Earnings were $2.08 per share, compared with $2.40 per share in 2002, including special items for both years.

Peter R. Kann, chairman-CEO of Dow Jones, said in a statement that the company was “somewhat pleased with the improving advertising trend we saw at the Journal in the second half of 2003. However, advertising volumes still are well below normal, and business confidence and spending commitments remain somewhat volatile.”

--Sean Callahan

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