Time (TIME) Declares $0.04 Quarterly Dividend; 1.2% Yield
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Time Inc misses revenue estimates, unveils new cost cuts
August 8, 2017 6:19 AM EDTBy Laharee Chatterjee
(Reuters) - Magazine publisher Time Inc (NYSE: TIME) reported a lower-than-expected quarterly revenue on Tuesday and announced a fresh cost-cutting program.
Shares of the company, down about 23 percent this year, fell another 6 percent in morning trading.
The New York-based publisher of Sports Illustrated, People and namesake Time said it was targeting $400 million in spending cuts.
The effort follows other recent measures by Time to slash spending including its move to eliminate 4 percent of its workforce and to cut its dividend payout.
Time has... More
Time (TIME) Tops Q2 EPS by 2c, Miss on Revenues; Reaffirms 2017 Adj. OIBDA Outlook
August 8, 2017 6:05 AM EDTTime (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 SavingsManagement... MoreTime (TIME) Appoints Katie Stanton to Board
August 7, 2017 11:44 AM EDTTime Inc. (NYSE: TIME) announced today the appointment of Katie J. Stanton, Chief Marketing Officer of Color, a health technology service that offers physician-ordered genetic testing for hereditary cancer risk, and former Vice President, Global Media at Twitter, to its Board of Directors. Stanton will serve on the Compensation Committee of the board.
"Katie is a highly regarded executive with deep and versatile experience in digital media, including sales, content and... More
