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Playboy Reports Loss; Postpones Playboy.com IPO

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We read

Playboy's

(PLA)

earnings report for the articles. Honest.

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Hugh Hefner's empire announced a third-quarter loss of 27 cents a share, worse than the 5-cent loss reported in the year-ago quarter. There were no analyst estimates for this quarter.

Losses in the company's television division helped weigh down the earnings. Revenues from Playboy TV declined to $28.2 million from $52 million, with the loss due in part to a $30 million payment to help launch an international division. Publishing and online revenues increased, but the company announced that it would not take

Playboy.com

public, citing unfavorable market conditions. It said it will, however, take its online businesses public when conditions improve.