ARLINGTON, Va. (AP) _ Graham Holdings Co. (GHC) on Wednesday reported third-quarter profit of $77.6 million.

The Arlington, Virginia-based company said it had net income of $15.22 per share. Earnings, adjusted for one-time gains and costs, were $8.06 per share.

The education and media company posted revenue of $717 million in the period.

Graham Holdings shares have declined 38% since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 4%.

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