Time +10% as it maintains outlook despite print ad fall-off

|About: Time Inc. (TIME)|By:, SA News Editor

Time Inc. (NYSE:TIME) is up 10% and recouping a week's declines, after Q3 revenues fell sharply and missed amid an ongoing print slowdown, but it reiterated its guidance for operating income.

Ad revenues fell 12% overall led by print's decline, and circulation revenues fell 12% as well. The drops were mitigated by other gains, including an increase in TV and content licensing and syndication and growth in event revenues.

Revenue breakout: Print and other advertising, $237M (down 18%); Digital advertising, $132M (up 2%); Subscription, $135M (down 9%); Newsstand, $55M (down 19%); Other circulation, $7M (flat); other revenues, $113M (up 3%).

Revenues by source: Magazines, 4433M (down 14%); Digital, $165M (up 3%); Brand extensions and other, $81M (down 4%).

It's expecting full-year OIBDA of $400M-$414M, well above consensus for $377M.

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