I’ve already complained about how the financial press reports corporate results. Again, A.H. Belo showed a negative net income (-$5.8 million), which will be the headline, and a positive operating profit (+$14.4 million), which will barely be mentioned. The market, at least, knows how to read the data, driving the stock price up 21% so far today. This reflects a new confidence in management’s turnaround strategy, which entails cutting circulation and raising prices, a move that drove a 11.8% increase in circ revenue this quarter. Nobody is of the woods yet, but that’s a healthy number.
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Lothar, of the Hill People, is of the woods.