Investing.com - Meredith (NYSE:MDP) reported on Thursday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Meredith announced earnings per share of $0.49 on revenue of $701.7M. Analysts polled by Investing.com anticipated EPS of $1.12 on revenue of $718.84M. That with comparison to EPS of $1.52 on revenue of $743.4M in the same period a year before. Meredith had reported EPS of $2.06 on revenue of $810.5M in the previous quarter. Analysts are expecting EPS of $1.08 and revenue of $710.13M in the upcoming quarter.
Meredith shares are down 66.31% from the beginning of the year , still down 81.32% from its 52 week high of $58.55 set on May 16, 2019. They are under-performing the EUR/USD which is down 0% year to date.
Meredith shares lost 11.06% in intra-day trade following the report.
Meredith follows other major Services sector earnings this month
Meredith's report follows an earnings missed by Amazon.com on April 30, who reported EPS of $5.01 on revenue of $75.45B, compared to forecasts EPS of $6.16 on revenue of $73.74B.
Visa A had beat expectations on April 30 with second quarter EPS of $1.39 on revenue of $5.85B, compared to forecast for EPS of $1.34 on revenue of $5.72B.
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