Graham Holdings Q2 net loss of $21M on impairment charges; revenue up 7%

Graham Holdings Co

2024-Q2 EPS reported $23.11 revenue$2,337,942,000

Revenue $1,185.3M (+7% YoY); operating income $25.9M vs $58.1M due to WGB impairment.
Net loss attributable to common shares $21.0M ($4.79/share) vs income $122.8M ($25.89) in Q2 2023.
Adjusted net income $56.9M ($12.70/share) vs $61.1M ($12.88) YoY.
Adjusted operating cash flow $98.5M vs $100.0M; repurchased 40,180 shares for $29.5M.
Debt $834.8M at avg rate 6.4%; cash & investments $1,009.6M; significant interest expense on redeemable noncontrolling interest.

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