NEW YORK (TheStreet) -- Shares of Time Inc. (TIME) are slightly lower after the magazine company reported earnings that beat analysts' estimates, helped by digital advertising sales, in its first financial disclosure since separating from Time Warner (TWX) in June, Bloomberg reports.
The company reported second quarter earnings of 30 cents per share on an adjusted basis which beat the 25 cent average projection of analysts, according to Bloomberg data.
Revenue declined 1.6% to $820 million, compared with the average estimate of $821 million.
Time reported a net loss of $32 million, or 30 cents a share, compared with net income of $75 million, or 69 cents, a year ago.Must Read: Warren Buffett's 25 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TIME data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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