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Time (TIME) Tops Q3 Earnings & Revenue Estimates

Time Inc.TIME , one of the leading media companies, posted third-quarter 2015 adjusted earnings of 32 cents a share that fared much better than the Zacks Consensus Estimate of 27 cents but fell 22% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2015 has remained unchanged over the past 30 days, while for 2016 it has been portraying a downtrend. If we look at Time's performance in the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 47.5%.

Revenues: Time Inc. generated revenues of $773 million that decreased 6% year over year, impacted by foreign currency headwinds and fall in print advertising revenue. However, revenues surpassed the Zacks Consensus Estimate of $770 million.

Management now expects revenues to decline in the range of 5% to 6% in 2015.

Key Events: Management authorized share buyback program of up to $300 million.

Zacks Rank: Currently, Time Inc. carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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