AP NEWS

Meredith Corp.: Fiscal 1Q Earnings Snapshot

November 7, 2019

DES MOINES, Iowa (AP) _ Meredith Corp. (MDP) on Thursday reported fiscal first-quarter net income of $6.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Des Moines, Iowa-based company said it had profit of 30 cents. Earnings, adjusted for one-time gains and costs, were 3 cents per share.

The media and marketing company posted revenue of $725.2 million in the period.

For the current quarter ending in January, Meredith Corp. expects its per-share earnings to range from $1.59 to $1.72.

The company said it expects revenue in the range of $570 million to $590 million for the fiscal second quarter.

Meredith Corp. expects full-year earnings in the range of $2.58 to $2.88 per share, with revenue ranging from $3 billion to $3.2 billion.

Meredith Corp. shares have decreased 26% since the beginning of the year. The stock has dropped 32% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDP at https://www.zacks.com/ap/MDP