Shares of Meredith Corporation Slump 13% Despite Topping Estimates [The Motley Fool]
NEW MEDIA INVESTMENT GROUP (NEWM)
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Source: The Motley Fool
Meredith's top and bottom lines beat analysts' expectations, but declined compared to the prior-year quarter. Daniel Miller ( TMFTwoCoins ) Feb 1, 2018 at 4:12PM What happened? Shares of Meredith Corporation ( NYSE:MDP ) , an American media company focusing on marketing services and publications for home, family, food, and lifestyle markets, are down 13% as of 3 p.m. EST Thursday, despite Meredith reporting second-quarter results that topped analysts' estimates. So what Starting from the top, total revenues checked in at $418 million, which was a noticeable decline from the prior year's $443 million but still above analysts' estimates calling for $415 million. Adjusted earnings checked in at $1.14 per share, well above analysts' estimates projecting $0.89 per share but still a decline from the prior year's $1.30 per share. Image source: Get
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