Meredith Corp Reports Drop In Revenue, Profit
Magazine publisher Meredith Corp (MDP) today reported a roughly 8 percent drop in earnings on a 3 percent drop in revenue for the 3rd quarter of 2011, the company said.
The National Media Group, which publishes Meredith’s magazines like Better Homes & Gardens, was slightly less profitable in this quarter ($48 million) than a year ago ($51 million), but by looking at the first three quarters of the year taken as a whole, the media group is doing slightly better, with an operating profit of $128 million, up 6 percent from $121 million in the first three quarters of 2010.
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