Time Inc. (Time) reported its third quarter earnings on Thursday, beating Wall Street expectations thanks to strong digital advertising growth but seeing a 5.8 percent drop in revenue year-over-year along with a profit loss of $913 million. The media company delivered $0.32 per share on revenue of $773 million, beating Wall Street expectations $0.27 per share on revenue of $769 million. But revenue fell from $821 million year-over-year. Time Inc. announced the sale of its Blue Fin building in the U.K. for £415 million ($634 million). The company’s Board of Directors announced stock buybacks of up to $300 million along with debt repayments...
- 11/5/2015
- by Jordan Chariton
- The Wrap
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