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Meredith Q3 Profit Slides - Quick Facts

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Meredith Corp. (MDP: Quote) posted a decrease in third-quarter net earnings to $21.17 million or $0.47 per share from $30.84 million or $0.67 per share a year earlier. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.66 for the quarter. Analysts' estimates typically exclude one-time items.

Howeverm total revenues increased to $345.51 million from $338.88 million in the previous year, whereas 6 analysts estimated revenues of $349.37 million for the quarter.

Looking ahead to the fourth quarter of fiscal 2012, Meredith sees earnings per share of $0.63 - $0.66. This range now includes approximately $0.10 of dilution related to Allrecipes.com.

Meredith expects fiscal 2012 earnings per share before the special charge to range from $2.47 - $2.50. This range now includes about $0.12 of dilution related to Allrecipes.com.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Oracle Corp. said Wednesday after the markets closed that its second quarter profit fell 2% from last year, hurt mainly by higher income tax expenses even as revenue increased 3%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Apple's iPhone-based Apple Pay system is gaining momentum nationwide with a host of new banks and retailers signing on. The system allows users to link a credit card directly to their device for payments and Apple now says they have deals with banks that account for 90 percent of the debit card transactions in the US. The current drop in fuel prices could lead to a major sales dip for electric automaker Tesla, according to some industry experts. The Elon Musk led manufacturer had predicted sales of over 500,000 new vehicles by 2020, but now that number could fall by as much as 40 percent.
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