AP posts profit in 2013 even as revenue falls

Published



NEW YORK (AP) — The Associated Press said Wednesday that it posted a net profit of $3.3 million in 2013, as it cut costs across the organization. The results compare with a loss of $25.5 million a year ago, according to the news cooperative’s annual financial report, released Wednesday.

Revenue fell 4 percent to $596 million as income from newspaper clients continued to fall and Google stopped licensing news content.

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