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Time Inc beats on earnings, sticks to 2017 outlook

Reuters 

By Sonam Rai(Reuters) - Time Inc's tight leash on costs helped it beat analysts' expectations on profit and stick to its yearly forecast for operating income on Thursday despite further sharp falls in sales of magazines and hard copy advertising.Shares in the owner of Time, Sports Illustrated and People magazines have almost halved in value since March as it struggled with a decline in revenue from its print publications.In the third quarter, however, the company's selling, general and administrative expenses fell 14.4 percent to $279 million, helping it to earn 36 cents per share compared to ...

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First Published: Fri, November 10 2017. 06:28 IST
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