AP Revenue Decline Slows In 2011
April 4, 2012 at 4:11 AM (PT)
Revenue at the ASSOCIATED PRESS fell for the third straight year in 2011, but the decline this time -- 0.5%, from $630.5 million to $627.6 million -- was less than the percentage dropped in each of the previous two years (10% in 2009 and 7% in 2010), according to an AP report. The company's loss before taxes increased slightly from $22.5 million to $23 million ($193.3 million including a one-time non-cash $168 million charge taken as a reserve against future tax benefits).
The organization expects revenue to increase up to 2% in 2012, propelled by the elections and SUMMER Olympics in LONDON.