Monday reduced its outlook for third-quarter earnings, citing September advertising revenue that's running below expectations and the prior-year period at
The Wall Street Journal
The media company now expects earnings of 8 cents to 11 cents a chare before a tax gain. Factoring in a special tax benefit of roughly 7 cents and a severance charge of a penny, it increased its outlook for reported earnings to a range of 14 cents to 17 cents a share.
Back in July, Dow Jones
projected third-quarter earnings before special items "in the low teens cents per share range." Analysts estimate earnings of 14 cents to 17 cents, according to Thomson First Call.
Dow Jones reported that August advertising revenue at the
increased 6.9% in August on a 6.7% increase in advertising volume. At
, total advertising revenue decreased 0.5% in August on a 10.6% increase in advertising pages vs. the prior-year period, despite one less issue in 2006 compared with the year-earlier period.
Shares were trading down 47 cents, or 1.4%, at $33.40 in recent after-hours trade Monday.