THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, July 20, 1994 TAG: 9407200489
SECTION: BUSINESS PAGE: D3 EDITION: FINAL
SOURCE: Bloomberg Business News
LENGTH: Short : 23 lines
Tribune Co., parent of The Daily Press in Newport News, logged a 37 percent earnings jump for its second quarter ended June 26. The Chicago-based media and publishing company attributed the gain to higher profits in its media business and lower losses in a newsprint unit spinoff. Tribune made $85.0 million, or $1.19 a share, up from $62.3 million, or 87 cents, for the year-earlier quarter. Revenue increased 11 percent to $573.7 million from $517.4 million due to an improved advertising climate and four acquisitions over the last year. Tribune's earnings exceeded by 17 percent the earnings estimates of 13 analysts polled by Zacks Investment Research. by CNB