Meredith's Revenue May Be Down, But National Media Group's Profit Sees Growth
Meredith Corp., publisher of Better Homes and Gardens and Ladies’ Home Journal, released its first quarter 2010 earnings results this morning, reporting revenues were down to $332 million during the quarter, compared to $364 million last year.
However, the company’s national media group saw profits rise 14 percent to $39 million, although revenues dropped to $272 million during the quarter compared to $294 million during the same period last year. Advertising revenues also dropped five percent to $137 million, although the company was quick to point out that the first quarter was “the third consecutive quarter of advertising performance improvement.”
The company has seen other improvements as well, boasting that it grabbed a 12.2
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