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Clockwise Core Equity & Innovation ETF (TIME) - free report >>
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Time (TIME) Beats on Q2 Earnings, Revenues Miss the Mark
Time Inc. (TIME - Free Report) , one of the leading media companies, posted second-quarter 2016 adjusted earnings of 22 cents a share that surpassed the Zacks Consensus Estimate of 16 cents but fell 18.5% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 and 2017 has been stable over the past 30 days. If we look at Time’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 27.6%.
TIME INC Price, Consensus and EPS Surprise
TIME INC Price, Consensus and EPS Surprise | TIME INC Quote
Revenues: Time Inc. generated revenues of $769 million that decreased 0.5% year over year and also fell short of the Zacks Consensus Estimate of $785 million. Foreign currency headwinds and fall in print and other advertising revenues as well as decline in circulation revenues hurt the top line. These were offset by growth in Digital advertising revenues. Management expects revenues to be flat to up 1.5% in 2016.
Key Events: During the quarter, the company bought back 2.17 million shares at a weighted average price of $15.56 per share.
Zacks Rank: Currently, Time Inc. carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
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