---
schema_version: "secwatch.filing_event.v1"
accession: "0000104889-21-000045"
form_type: "8-K"
ticker: "GHC"
cik: "0000104889"
company_name: "Graham Holdings Co"
filed_at: "2021-11-03T23:59:59+00:00"
generated_at: "2026-06-28T13:39:05.371812+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Graham Holdings Q3 net income falls 49% to $39.6M; revenue up 13% to $809.4M

## Summary
- Net income $39.6M ($7.90/share) in Q3 2021, down 49% from $77.6M ($15.22) in Q3 2020.
- Revenue $809.4M, +13% YoY, with growth at education, healthcare, automotive offset by declines in TV and manufacturing.
- Operating loss of $16.6M vs operating income of $40.2M a year ago, reflecting $26.8M in impairment charges.
- Education revenue $336M (+11%); Kaplan operating income $9.9M vs $3.3M; TV revenue -5% to $126.5M.
- Manufacturing revenue -6%; $26.7M goodwill impairment at Dekko due to demand weakness and cost pressures.

## SEC filing metadata
- accession: 0000104889-21-000045
- form_type: 8-K
- ticker: GHC
- cik: 0000104889
- company_name: Graham Holdings Co
- filed_at: 2021-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/104889/000010488921000045/0000104889-21-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/104889/000010488921000045/ghc-20211103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000104889-21-000045
- JSON: https://secwatch.observer/filing/0000104889-21-000045.json
- Plain text: https://secwatch.observer/filing/0000104889-21-000045.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.