Decline In Newspapers Weighs On AP Earnings
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Decline In Newspapers Weighs On AP Earnings

Last year earnings at the Associated Press shrank significantly compared to 2015. The shrinking earnings are the result of declining newspaper readership and a stronger U.S. dollar which reduced the value of sales overseas. AP’s net income saw a 99 percent decline, from $183.6 million in 2015 to $1.6 million in 2016. It should be noted though that the 2015 profits were boosted by a one-time $165 million tax benefit. AP’s chief financial officer, Ken Dale, said, “”We feel like we’re financially stable, we have no debt and we continue to generate positive cash flow.”
http://hosted2.ap.org/APDEFAULT/4e67281c3f754d0696fbfdee0f3f1469/Article_2017-04-19-US–Earns-Associated%20Press/id-38cbb0aaad604a01a68feaea0d4da0d7

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