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Time (TIME) Tops Q2 Earnings & Sales, Keeps Outlook Intact - Tale of the Tape

Zacks Equity Research
Updated

Time Inc. (TIME), one of the leading media companies, posted second-quarter 2015 adjusted earnings of 27 cents a share that fared much better than the Zacks Consensus Estimate of 13 cents but fell 10% year over year. The year over year decline in earnings was attributable to higher interest expense and soft sales.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2015 and 2016 has been unchanged over the past 30 days. However, 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 46.3%.

Revenues: Time Inc. generated net sales of $773 million that decreased 6% year over year, impacted by adverse currency movements. However, net sales surpassed the Zacks Consensus Estimate of $759 million.

Management reiterated its 2015 guidance, which includes reported revenues to decline in the range of 3% to 6%.

Key Events: Time Inc. acquired three digital sports companies to lay the foundation of Sports Illustrated Play, an extension of Time’s prominent magazine Sports Illustrated. Also, Time Inc. purchased inVNT, an experiential company.

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

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TIME INC (TIME): Free Stock Analysis Report
 
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Zacks Investment Research