Meredith reports record $400 million in first-quarter revenue
BPC Staff Oct 27, 2016 | 8:27 pm
1 min read time
144 wordsAll Latest News, Arts and Culture, InsuranceMeredith Corp. today reported record fiscal 2017 first-quarter earnings of 75 cents per share, compared with 24 cents per share in the prior-year period. Total company revenues increased 4 percent to a record $400 million, and total advertising revenues increased 3 percent to $226 million. “We’re off to an excellent start in fiscal 2017, boosted by strong political advertising performance at our local television stations, along with double-digit growth in digital advertising revenues in both the national and local businesses,” said Meredith Chairman and CEO Stephen Lacy. “Looking ahead, we continue to expect to generate record full-year earnings of $3.50 to $3.80 per share in fiscal 2017, including record second-quarter earnings of between $1.18 to $1.23 per share,” Lacy said. Des Moines-based Meredith owns local television brands in large, fast-growing markets and national magazine and online brands serving more than 100 million American women.