How does GHC's earnings performance compare year-over-year?

Graham Holdings Corporation (GHC) has demonstrated significant year-over-year growth in its net income, surpassing market estimates in the process. Here's a detailed analysis:

1. **Net Income Growth**: GHC's net income for the first quarter of 2024 was reported at $124.4 million, which is a substantial increase from the $40.2 million estimated by analysts. This indicates a strong financial performance, with the actual net income being more than double the estimated amount.
2. **Year-Over-Year Comparison**: When comparing the net income of the first quarter of 2024 with the previous year, the growth is even more pronounced. In the full year of 2023, GHC reported a net income of $205.3 million, which is a 208% increase from the $83.6 million (net income for FY 2022) implied by the data. This suggests a consistent upward trend in the company's profitability.

|code|Ticker|Name|Date|Net Income (FY) YoY|Net Income (FY)|market_code|
|---|---|---|---|---|---|---|
|GHC|GHC.N|Graham Holdings|2020|-8.512591535291984|2.99968E8|169|
|GHC|GHC.N|Graham Holdings|2021|17.78823074461276|3.53327E8|169|
|GHC|GHC.N|Graham Holdings|2022|-80.06549173994628|7.0434E7|169|
|GHC|GHC.N|Graham Holdings|2023|200.570747082375|2.11704E8|169|
|GHC|GHC.N|Graham Holdings|2024|246.05392434720176|7.3261E8|169|

3. **Revenue Growth**: The revenue for the first quarter of 2024 was reported at $1,152.7 million, reflecting a 12% increase from the previous year's $1,031.5 million. Although this fell slightly short of the estimated $1,169.8 million, it still indicates a strong revenue generation capacity for the company.
4. **Operating Income Increase**: GHC also experienced an increase in operating income, rising to $35.4 million in the first quarter of 2024 from $27.7 million in the corresponding quarter of the previous year. This is a positive indicator of improved operational efficiency and profitability.
5. **Profit Margin Improvement**: The profit margin for GHC has improved significantly, with the company reporting a profit margin of 4.6% for the full year of 2023, up from 1.7% in 2022. This improvement is directly attributable to the increase in revenue and net income.
6. **Consistency in Performance**: The strong earnings performance in Q1 2024 is consistent with GHC's historical trends. For instance, in the full year of 2023, the company reported a net income of $205.3 million, which is a substantial increase from the $83.6 million in 2022.

In conclusion, GHC's earnings performance has shown remarkable year-over-year growth, driven by significant increases in net income, revenue, and operating income. The company's profit margin has also improved substantially, indicating enhanced operational efficiency and profitability.