Meredith Q1 Profit Up, Beats Estimates - Quick Facts

(RTTNews) - Magazine publisher Meredith Corp. (MDP) Thursday reported first-quarter earnings of $29.36 million or $0.65 per share, higher than $24.04 million or $0.53 per share in the year-ago period.

On average, 4 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.64 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues increased 4 percent year-over-year to $371.18 million from $356.45 million, including 10 percent growth in advertising revenues. Analysts expected revenue of $370.67 million.

Looking ahead, for the second quarter, Meredith expects earnings per share to range from $0.95 - $1.00, while analysts are looking for earnings of $0.99.

Further, the company said the acquisitions of Martha Stewart Living and Martha Stewart Weddings magazines, and the purchase of the broadcast assets of WALA, made during the quarter is expected to add to its earnings and cash flow in fiscal 2015, consistent with its total shareholder return strategy.