Capital Cities/ABC Inc. said Thursday that its...
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Capital Cities/ABC Inc. said Thursday that its profit climbed 35.9% for the first quarter, led by increased profitability in broadcasting operations, which include the ABC Television Network.
The New York-based diversified media conglomerate earned $157.8 million, or $1.02 a share, for the three months ended April 2, compared to $116.1 million, or 76 cents a share, a year earlier. Revenue rose 14% to $1.61 billion for the quarter from $1.40 billion. Operating income rose 33%, led by a 35% gain in broadcasting and an 11% increase from publishing.
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