See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Clockwise Core Equity & Innovation ETF (TIME) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Clockwise Core Equity & Innovation ETF (TIME) - free report >>
Image: Bigstock
Time (TIME) Posts In-Line Q3 Earnings, Revenues Miss
Time Inc. (TIME - Free Report) , one of the leading media companies, posted third-quarter 2016 adjusted earnings of 31 cents a share, in-line with the Zacks Consensus Estimate but fell 3.1% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 and 2017 has witnessed slight uptrend in 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 10%.
Revenues: Time Inc. generated revenues of $750 million that decreased 3% year over year and also fell short of the Zacks Consensus Estimate of $774 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 down 1% in 2016.
Key Events: During the quarter, the company bought back 1.11 million shares at a weighted average price of $15.06 per share.
TIME INC Price, Consensus and EPS Surprise
TIME INC Price, Consensus and EPS Surprise | TIME INC Quote
Zacks Rank: Currently, Time Inc. carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>