New York—Dow Jones & Co., publisher of Barron’s, The Wall Street Journal, and WSJ.com, said Thursday its second quarter profit rose due to increases in both ad revenue and circulation revenue. The company said its net income for the second quarter rose to $28.8 million, or 34 cents per share, compared with $861,000, or 1 cent per share, in the same quarter a year ago. The significant boost in earnings comes amid a series of changes by Dow Jones designed to enhance the online presence of its various media properties.
Total revenue rose 5.9% to $481.2 million compared with the same period a year ago. Second-quarter consumer media revenue rose 8.9% to $291.2 million because of a 10.3% increase in advertising revenue and a 5.9% gain in circulation. Advertising revenue at the flagship Wall Street Journal was up 11.8% in the quarter on a linage increase of 11.2%. Dow Jones Online's advertising revenue increased 22.9% in the quarter, while revenue for Dow Jones’ Ottaway community newspapers rose 1.7%.
In June, ad revenue for the Journal, including the "Weekend Edition", rose 17.4% on a 17.9% increase in ad lineage. Lineage increases in technology, classified and general advertising were partially offset by declines in technology professional services and personal computer advertising.