Time (TIME) Tops Q2 EPS by 2c, Miss on Revenues; Reaffirms 2017 Adj. OIBDA Outlook

Time (NYSE: TIME) reported Q2 EPS of $0.13, $0.02 better than the analyst estimate of $0.11. Revenue for the quarter came in at $694 million versus the consensus estimate of $703.49 million.

• Strategic Transformation Program Has Already Targeted More than $400 Million of Run-Rate Cost Savings
• Management Projects a Minimum Range of $500 Million to $600 Million of Adjusted OIBDA within 3 to 4 Years*
• Transformation Program Includes Reinvestment in Core Growth Areas Including Native and Branded Content, Video, Data & Targeting, Paid Products & Services and Brand Extensions
• Second Quarter Operating Loss of $38 Million Principally due to Goodwill Impairment and Restructuring and Severance Charges
• Second Quarter Adjusted OIBDA of $88 million; Roughly Flat Year-Over-Year
• Management Reaffirms 2017 Outlook for Adjusted OIBDA

For earnings history and earnings-related data on Time (TIME) click here.

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