The Washington Post has said that it has recorded an 85 per cent fall in earnings as it faced decline in newspaper and education divisions even as it recorded a strong operating profits for its television broadcasting and cable divisions during the first quarter of the year. The company's profits from continuing operations were $6.1 million compared to $13.5 million.

The company said that it generated a net income of $4.7 million, or 64 cents a share during the first quarter form January to March, 2013 compared to $31 million, or $4.07 a share recorded in the same quarter of the previous year. Its total revenues increased $959.1 million in the quarter compared to $955.5 million in the first quarter of 2012.

The earnings were affected by a one-time charge of $25.3 million for early retirement, severance and restructuring at the company's newspaper and education divisions and a loss of $4.6 million in foreign exchange market. On the other hand, the company had received an amount of $17.6 million from the sale of various assets during the first quarter of the previous year. During the quarter, the company said it suffered a loss of $100,000 from the sale of the Herald newspaper of Everett, Washington by selling it below its value in the accounting books.