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And so that’s why you see this. It’s a profound problem across local newspapers all around the country and in fact the world. So I had to do some soul searching and I said, is this something I want to get involved in? If I’m going to do it, I’m going to put some heart into it and some work into it. I decided I would only do that if I really believed it was an important institution. I said to myself, if this were a financially upside down salty snack food company, the answer would be no. But as soon as I started thinking about that way, I was like, this is an important institution. It is the newspaper in the capital city of the most important country in the world. The Washington Post has an incredibly important role to play in this democracy. There’s just no doubt in mind about that.

Ancient origins

Analysts were expecting earnings of .50 per share and revenue of .90 billion, according to IBES estimate from Refinitiv. It was not immediately clear if the reported numbers were comparable with the estimate.

Analysts attributed the slowing profit growth to economic slowdown, and believe the country's debt-for-equity swap policies and enhanced government regulation helped improve their bad loan management performance.

Analysts have said the current stock-buying boom is reflective of investors' "fear of missing out" on future gains as equities drift higher during a low-volume trading period.