Plus   Neg

Acxiom To Realign Into Two Units; To Explore Options For Marketing Solutions

Acxiom (ACXM) announced plans to realign its portfolio into two distinct business units: LiveRamp, the identity cloud, and Acxiom Marketing Solutions, the provider of data solutions for powering exceptional customer experiences. Acxiom expects to report its results under the realigned business units in the first quarter of fiscal 2019.

Acxiom also announced that it intends to actively explore options to further strengthen Acxiom Marketing Solutions and deliver greater value to its clients. These options may include a strategic partnership, acquisition, tax-free merger, joint venture, tax-free spin-off, sale or other potential strategic combinations.

Third-quarter Non-GAAP earnings per share were $0.31 compared to $0.24 a year ago. Current period results included $0.04 non-GAAP tax benefit associated with the recent tax reform legislation. Total revenue was $235 million, up 5% compared to the third quarter of last year.

For fiscal 2018, Acxiom expects non-GAAP earnings per share of between $0.85 and $0.89. Included in this guidance is an assumed tax reform benefit of between $0.04 and $0.05. The guidance is unchanged on a comparable basis. For fiscal 2018, Acxiom now expects to report revenue of between $910 million and $915 million, an increase of approximately 6% year-over-year after adjusting for the Acxiom Impact divestiture. This is reduced from previous guidance of between $920 million and $930 million primarily as a result of lower expected revenue from Audience Solutions.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shortly after announcing a racial bias training for the staff, Starbucks revealed its changed policy of allowing anyone to use its spaces, rest rooms, cafes and patios even without buying anything from the stores. The new policy will be consistent all across U.S. stores. Tesla Inc.'s CEO Elon Musk has revealed new specifications and options for its Model 3 electric car, including a high-end version of the sedan that will cost around $78,000. In a series of posts on Twitter Saturday night, Musk said that the Model 3 will be available in two versions, with dual motors and all-wheel drive in July. Musk also made an announcement regarding a new service program. Billionaire entrepreneur Elon Musk on Thursday showed off his concept for the Loop, a high-speed underground public transportation system that will carry up to 16 people and travel at 150 miles per hour. At the Boring Company Information Session, Musk and project leader Steve Davis provided details of the underground mass transit tunnels that the Boring Co. plans to build beneath Los Angeles.
Follow RTT