Time (TIME) Misses Q4 Earnings & Revenue Estimates
Time Inc.TIME , one of the leading media companies, posted fourth-quarter 2016 adjusted earnings of 75 cents a share, missing the Zacks Consensus Estimate by a couple of cents but increased 29% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has witnessed slight downtrend in the past 30 days. If we look at Time's performance in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 5.4%.
Revenues: Time Inc. generated revenues of $867 million that decreased 1.1% year over year and also fell short of the Zacks Consensus Estimate of $871 million. Foreign currency headwinds and fall in print and other advertising revenues hurt the top line. These were offset by growth in Digital advertising revenues. Management expects revenues to be nearly $3,000 million.
Time Inc. Price, Consensus and EPS Surprise
Key Events: During the quarter, the company bought back 0.39 million shares at a weighted average price of $13.48 per share.
Zacks Rank: Currently, Time Inc. carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
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