Stock Alert: Meredith Corporation Up 22% On Quarterly Results

(RTTNews) - Shares of media company Meredith Corporation (MDP) are surging more than 22% Thursday morning after reporting better-than-expected first-quarter results.

Earnings from continuing operations for the first quarter were $0.88 per share compared with loss of $0.17 per share in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 share.

Revenue for the quarter was $693.5 million, down 4 percent from the prior-year period. The consensus estimate was for $659.96 million.

MDP is currently at $13.48, and has been in the range of $10.01- $39.84 in the last one year.