Meredith Reports 40% Earnings Growth

Meredith Corporation (MDP) today reported earnings of $25 million for its first quarter of 2011, a 40 percent increase from the first quarter of 2010. Ad revenues were up 6 percent to $205 million and production and editorial costs fell 5 percent to $143 million. The same trend was true over the company’s broader numbers: overall revenue was up while overall expenses were down.