Magazine publisher Time Inc. [fortune-stock symbol=”TIME”] has reported a 0.4% increase in third-quarter revenue, growth that was tied to some recent corporate transactions and offsetting weak print advertising revenue. Here are the most important things to know about company’s latest earnings report.
What you need to know: The results from Time Inc. — the publisher of People, Entertainment Weekly, Sports Illustrated and Fortune — were affected by several factors lumped together as “corporate transactions,” which include the acquisition of Cozi Inc., the sale of Mexico-based GEX, and other transactions. Excluding those items, revenue would have declined 6%, hurt by lower print and other advertising revenue, as well as falling circulation revenue.
The company, which was spun off earlier this year from former parent Time Warner [fortune-stock symbol=”TWX”], is now a stand-alone magazine producer at a challenging time for the publishing industry, which has struggled to adapt to…
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