Time Inc. Posts Profit

Cutting costs helps.

Time Inc. has posted a $24 million profit for the second quarter of 2015; a marked turnaround from the $32 million loss a year ago. The change was mostly due to lowered operating costs, which helped offset declines in revenue.

Advertising revenues dropped nine percent, down to $420 million. Newsstand, circulation and subscription revenues declined one percent, two percent and three percent, respectively. Print and other advertising revenues also dropped 11 percent compared to last year.

The one bright spot for Time Inc. was digital revenue, which increased by three percent.