Company: GHC
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000104889-25-000032
Chunk: 70

Company: Graham Holdings Co
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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.9 million, up 1% from $1,152.7 million in the first quarter of 2024. Revenues increased at education, healthcare and other businesses, partially offset by declines at television broadcasting, manufacturing and automotive. The Company reported operating income of $47.5 million for the first quarter of 2025, compared to $35.4 million for the first quarter of 2024. The improvement in operating results is due to increases at education, manufacturing and healthcare, partially offset by declines at television broadcasting, automotive and other businesses.

Division Results

Education

Education division revenue totaled $424.7 million for the first quarter of 2025, up 1% from $422.6 million for the same period of 2024. Kaplan, Inc. (Kaplan) reported operating income of $40.0 million for the first quarter of 2025, compared to $30.6 million for the first quarter of 2024.

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

Three Months Ended  March 31  (in thousands)20252024% ChangeRevenue      Kaplan international$261,256 $269,798 (3)Higher education88,487 80,122 10 Supplemental education75,403 72,122 5 Kaplan corporate and other12 2,588 — Intersegment elimination(427)(2,032)—   $424,731 $422,598 1 Operating Income (Loss)      Kaplan international$30,062 $31,312 (4)Higher education12,807 5,519 — Supplemental education5,968 4,580 30 Kaplan corporate and other(6,648)(7,585)12 Amortization of intangible assets(2,119)(2,974)29 Intersegment elimination(37)(265)—   $40,033 $30,587 31 

Kaplan International includes postsecondary education, professional training and language training businesses largely outside the United States (U.S.). Kaplan International revenue decreased 3% for the first quarter (2% on a constant currency basis) due largely to lower student enrollments at UK Pathways and Languages, partially offset by growth at UK Professional, Australia and Singapore. Kaplan International reported operating income of $30.1 million in the first quarter of 2025