Meredith Corp. (MDP) Tops Q3 EPS by 12c

Meredith Corp. (NYSE: MDP) reported Q3 EPS of $0.92, $0.12 better than the analyst estimate of $0.80. Revenue for the quarter came in at $422.77 million versus the consensus estimate of $414.66 million.

GUIDANCE:

Meredith Corp. sees Q4 2016 EPS of $1.01-$1.06, versus the consensus of $1.04.

Meredith Corp. sees FY2016 EPS of $3.25-$3.30, versus the consensus of $3.15.

"We delivered an exceptionally strong quarter - generating total advertising growth of 8 percent - as both our local and national business units performed well," said Meredith Chairman and CEO Stephen M. Lacy. "We grew total company revenues 6 percent - and combined with diligent expense management - meaningfully increased our operating profit margin. Additionally, we continued to return significant cash to our shareholders, raising our dividend over 8 percent to $1.98 per share on an annualized basis, further bolstering our commitment to Total Shareholder Return and our strong investment thesis."

For earnings history and earnings-related data on Meredith Corp. (MDP) click here.

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