AABP EP Awards 728x90

Meredith Corp. reports higher earnings, record revenue

/wp-content/uploads/2022/11/BR_web_311x311.jpeg

Meredith Corp. on Thursday reported third-quarter earnings per share of 56 cents, compared with 41 cents in the prior-year period. Excluding special items in both periods, earnings per share were 71 cents, compared with 70 cents. Fiscal 2015 third-quarter revenues rose 8 percent to a record $398 million, including 13 percent growth in advertising revenues. For the first nine months of fiscal 2015, Meredith’s earnings per share were $2.08, compared with $1.61 in the prior-year period. Excluding special items in both periods, earnings per share grew 23 percent, to $2.36. Total revenues rose 8 percent, to $1.2 billion, including 16 percent growth in advertising revenues. Special items in both the third quarter and first nine months were primarily integration expenses related to recent print, television and digital acquisitions, and performance improvement plans related to business realignments. Meredith’s stock price rose 2.81 percent, to $54.48, by 2 p.m. CDT.