Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 114

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 114
---
 for the second quarter of 2025, up 3% from $422.9 million for the same period of 2024. Kaplan reported operating income of $46.2 million for the second quarter of 2025, compared to $35.3 million for the second quarter of 2024. 

For the first six months of 2025, education division revenue totaled $861.5 million, up 2% from $845.5 million for the same period of 2024. Kaplan reported operating income of $86.2 million for the first six months of 2025, compared to $65.9 million for the first six months of 2024.

31

A summary of Kaplan’s operating results is as follows:

Three Months EndedSix Months Ended  June 30  June 30  (in thousands)20252024% Change20252024% ChangeRevenue            Kaplan international$272,171 $267,026 2 $533,427 $536,824 (1)Higher education84,738 81,041 5 173,225 161,163 7 Supplemental education80,161 73,133 10 155,564 145,255 7 Kaplan corporate and other23 2,993 (99)35 5,581 (99)Intersegment elimination(280)(1,294)— (707)(3,326)—   $436,813 $422,899 3 $861,544 $845,497 2 Operating Income (Loss)            Kaplan international$29,937 $25,824 16 $59,999 $57,136 5 Higher education17,972 14,354 25 30,779 19,873 55 Supplemental education7,406 5,672 31 13,374 10,252 30 Kaplan corporate and other(7,416)(8,055)8 (14,064)(15,640)10 Amortization of intangible assets(1,699)(2,872)41 (3,818)(5,846)35 Intersegment elimination(15)354 — (52)89 —   $46,185 $35,277 31 $86,218 $65,864 31