Graham Holdings Company (WPO) has reported a 44.19 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $21.09 million, or $3.75 a share in the quarter, compared with $37.78 million, or $6.59 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $14.06 million, or $2.50 a share compared with $28.18 million or $4.92 a share, a year ago. Revenue during the quarter dropped 3.16 percent to $582.72 million from $601.74 million in the previous year period. Total expenses were 95.01 percent of quarterly revenues, up from 91.38 percent for the same period last year. That has resulted in a contraction of 363 basis points in operating margin to 4.99 percent.
Operating income for the quarter was $29.05 million, compared with $51.87 million in the previous year period.
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