After market closed, SINA Corp. (SINA) reported revenues of $96.4 million in the third quarter of 2009. Revenues was down 8.6% year over year but was up 6.8% sequentially. Revenues exceeded the company's guidance of $91.0 – $94.0 million and easily beat the Zacks Consensus estimate of $94.0 million. This reflects strong execution of the company’s online advertising business in China , which grew double-digits sequentially. We expect a huge improvement in SINA’s advertising business, as advertising spending recovers. SINA expects to benefit from government stimulus packages. Moreover, management is witnessing signs of a strong recovery in the advertising market in China in the second half of this year, which is reflected in the company’s higher-than-expected guidance. Advertising revenues decreased 16.3% year over year but was up 10% quarter over quarter, exceeding the company’s guidance of $60.0 – $62.0 million. Non-advertising ...

Scripps Networks Interactive, Inc. (SNI) reported better-than-expected third-quarter 2009 financial results. Quarterly consolidated revenue of $364.5 million was flat relative to the prior-year quarter and was also in line with the Zacks Consensus Estimate. On a GAAP basis, quarterly net income from continuing operation was $64.6 million, or 39 cents per share, compared to a net income of $58.2 million, or 35 cents per share, in the year-ago quarter. Third quarter EPS of 39 cents was better than the Zacks Consensus Estimate of 37 cents.

Quarterly operating income was $122.7 million, up 4.8% year-over-year. This was mainly attributable to a 4.5% year-over-year decline in cost of sales and expenses. In the reported quarter, total segment profit (before depreciation and amortization) was $144.3 million, up 7.9% year-over-year. During the same quarter, the company generated $157.2 million of cash from continuing operations, compared to $216.3 million in the year-ago quarter. Quarterly

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News Corp. (NWS) recently reported its first quarter results. Earnings of 22 cents a share surpassed the Zacks Consensus Estimate of 17 cents and climbed 10% from 20 cents posted in the prior-year quarter.   Total revenues tumbled 4.1% year on year to $7,199 million due to fall in Television (down 7.7%), Direct Broadcast Satellite Television (down 4.3%), Newspapers and Information Services (down 17.7%), Book Publishing (down 1.6%) and Other (down 44.4%) segments, offset by rise in Filmed Entertainment (up 20.8%), Cable Network Programming (up 10.5%) and Integrated Marketing Services (up 3.1%) segments.   However, significant cost-cutting initiatives taken by management and robust performance at Filmed Entertainment and Cable Network Programming segments have boosted the operating income by 9.3% to $1,042 million. Management expects fiscal 2010 operating income to increase within a high-single digit to low double-digit percentage range.   Filmed Entertainment posted a record first quarter operating ...

Marvel Entertainment Inc. (MVL), a character-based entertainment company engaged in the licensing, publishing and film production businesses, recently reported third-quarter 2009 results. The quarterly earnings of 26 cents a share bettered the Zacks Consensus Estimate of 24 cents but fell sharply by 59.4% from 64 cents delivered in the prior-year quarter. Total revenue also tumbled 42.1% year-on-year to $105.7 million. The fall in both the top and bottom lines was due to lower licensing and film production revenues. Licensing revenue slipped 15.8% to $48.9 million, whereas film production revenue dipped 72.5% to $24.8 million. While no films were released in the reported quarter, the year-ago quarter benefited from the releases of Iron Man and The Incredible Hulk, in addition to its Spider-Man merchandising joint venture. Marvel is slated to release four films ahead: Iron Man 2 in 2010, Thor and The First Avenger: Captain America ...

Comcast Corp. (CMCSA) today reported its third quarter results. Net income was $944 million or 33 cents, compared to $771 million or 26 cents in the prior-year quarter. The company’s adjusted (excluding tax benefit and one time financing charges) EPS stood at 28 cents, well above the Zacks Consensus Estimate of 25 cents. Effective expense control and working capital management were the primary reasons for this solid performance.  Total revenues were $8.8 billion, up 3% year over year and mostly in line with the Zacks Consensus Estimate. Top-line growth was mainly attributable to the strong performance of both Cable and Programming segments.   Gross margin in the third quarter was 60.3%, compared to 60.9% in the year-ago quarter. The operating margin was 37.8% in the reported quarter, remains same year over year. For the third quarter, Comcast declared the dividend of $0.07 per common share, compared to $0.06

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Despite tough macro-economic conditions, Time Warner Inc. (TWX), the global leader in media and entertainment businesses, reported better-than-expected third-quarter 2009 results that topped the Zacks Consensus Estimate. The quarterly earnings of 61 cents a share beat the Zacks Consensus Estimate of 52 cents, but dropped 6% from 65 cents delivered in the prior-year quarter. On a reported basis, including one-time items, quarterly earnings came in at 55 cents a share, sharply down by 38% from 89 cents posted in the year-ago quarter. On account of better-than-expected results at its Content Group -- comprising Networks, Filmed Entertainment, Publishing and Corporate segments -- Time Warner boosts its business outlook. The company now expects its full year 2009 earnings to be $2.05 per share, up from $1.98 previously anticipated. Total revenue for the quarter tumbled 6% to $7,135 million due to a fall in revenue at the AOL, ...

Meredith Corp. (MDP) announced fiscal 2010 first quarter results prior to the opening bell today. The company recorded a GAAP net income of $18.3 million, compared to $18.6 million in the year-ago quarter. Excluding a favorable tax benefit, adjusted earnings per share came in at 34 cents per share, edging past the Zacks Consensus Estimate by a penny.  The company recorded an 8.7% year-over-year decrease in total revenues to $332.4 million. The decline was primarily caused by a 9.4% decline in advertising revenues to $191.8 million, coupled with a 2.1% reduction in circulation revenues to $69.9 million.  Meredith’s National Media group (earlier, Publishing group) posted a 7.5% decline in revenues to $271.6 million as performance continues to be affected by the downturn plaguing the print media industry. National Media’s advertising revenue fell 5% to $137 million during the quarter and the company expects it to decline ...

For Immediate Release

Chicago, IL – October 23, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The New York Times Company (NYT), Washington Post Company (WPO), Journal Communications (JRN), Gannett Co. (GCI) and McClatchy Company (MNI).

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Here are highlights from Thursday’s AnalystBlog:

NY Times Beats Zacks Consensus

Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate.

The New York Times quarterly earnings of 16 cents a share surpassed the

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Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate. The New York Times quarterly earnings of 16 cents a share surpassed the Zacks Consensus Estimate of 2 cents, and the prior-year quarter earnings of 5 cents. The better-than-expected results came on the heels of significant cost-cutting measures and newspaper price increase. On a reported basis, including one-time items, the company reported a loss of 25 cents a share, a substantial improvement from the loss of 74 cents delivered in the year-ago quarter. Management now expects to save $475 million in operating costs in 2009 up from $450 million previously anticipated. Operating costs fell 21.6% to $490 million, whereas operating profit surged 30.2% to $80.6 million. Total revenue dipped 16.9% to $570.6 million, primarily due to lower print ...

AT&T Inc. (T) announced third-quarter 2009 results, with reported earnings per share of 54 cents beating the Zacks Consensus Estimate of 50 cents while declining from 55 cents reported a year ago. Net income fell 1.2% year over year to $3.2 billion on account of lower revenue. The results were highlighted by growth across wireless and U-verse video businesses. The second largest wireless carrier reported consolidated revenue of $30.9 billion for the quarter, down 1.6% year over year, largely due to lower wireline voice, legacy data and print advertising revenue, which offset growth in wireless and wireline data services. AT&T registered a net gain of 2 million wireless subscribers in the third quarter to reach 81.6 million total subscribers in service, up 9% year over year, driven by strong iPhone activations. This represents the largest third quarter addition in the company’s history. Retail postpaid additions for ...