Meredith Corp. Profit Retreats 18% In Q2

(RTTNews) - Meredith Corp. (MDP) revealed earnings for second quarter that fell compared to the same period last year.

The company said its bottom line totaled $64.07 million, or $0.80 per share. This was down from $78.32 million, or $1.00 per share, in last year's second quarter.

Analysts had expected the company to earn $0.78 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 1.9% to $406.41 million. This was up from $398.91 million last year.

Meredith Corp. earnings at a glance:

-Earnings (Q2): $64.07 Mln. vs. $78.32 Mln. last year. -Earnings Decline (Y-o-Y): -18.2% -EPS (Q2): $0.80 vs. $1.00 last year. -EPS Decline (Y-o-Y): -20.0% -Analysts Estimate: $0.78 -Revenue (Q2): $406.41 Mln vs. $398.91 Mln last year. -Revenue Change (Y-o-Y): 1.9%

-Guidance: Full year EPS guidance: $3.05 to $3.2