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Meredith reports record second-quarter earnings


Meredith Corp. this morning reported record quarterly earnings per share for both its fiscal second quarter and the first six months of its fiscal year. Earnings for the quarter that ended Dec. 31 were $40.6 million, or 88 cents per share, compared with $20 million, or 42 cents per share, in the year-ago quarter. Revenues rose 9 percent to $367 million. The company said second-quarter performance was driven by revenue growth across all of Meredith’s major businesses, coupled with disciplined expense management. Total advertising revenue increased by 14 percent, and Local Media Group ad revenue increased by 30 percent, including $22 million in political advertising.

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