Meredith Corp Reports Decrease in Revenue and Earnings in Q1 FY2020
Company remains optimistic that operational changes will deliver solid results for fiscal 2020.
Meredith Corp (NYSE: MDP) reported decreases in revenue and earnings for the first quarter of its fiscal year 2020 for the period ended September 30, 2019. Total company revenues from continuing operations were $725 million, compared to $774 million for the same period last year. The prior year period, however, included $33 million in high-margin political advertising for the Local Media Group, which the company did not have this year. Earnings from continuing operations were $12 million, down from $16 million for the same period last year.
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