Graham Holdings Slips To Loss In Q2

(RTTNews) - Diversified education and media company Graham Holdings Co. (GHC) Wednesday reported second quarter loss, compared to profit last year. Revenues were up 7 percent compared to the similar quarter last year. Shares are currently down 1.84 percent at $800.00.

The quarterly loss was $21 million or $4.79 per share compared to profit of $122.8 million or $25.89 per share last year.

Revenue for the quarter increased to $1.185 billion, up from $1.105 billion a year ago.

The company had recorded a significant increase in interest expenses and an impairment of goodwill and other long lived assets this quarter. Further, there was a decline in gain on marketable equity securities.