Earnings at The Associated Press shrank substantially last year, reports the agency. The last year with which they can be meaningfully compared is 2013 (in 2015 and 2014 when profits were boosted by one-time operations) Net income last year shrank to $1.6 million from $3.3 million in 2013, net income at the AP. The agency is a not-for-profit news cooperative.
According to CFO Ken Dale the agency is financially stable, has no debt and creates positive cash flow.
Nearly half of AP’s revenue comes from TV broadcasters. Newspapers account for 23 percent of revenue. U.S. papers make up the bulk of that, contributing 19 percent of total revenue. Internet companies like Yahoo and Microsoft contribute about another 10 percent. AP also gets money from other agencies and radio stations.