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MEREDITH MAGAZINE PROFITS RISE: Meredith Corp. reported first-quarter 2010 earnings on Thursday, with total revenues falling below analysts’ expectations. For the quarter, revenues decreased 8.7 percent to $332 million. In the national media group, which includes magazines, operating profit rose 14 percent to $39 million but ad revenues fell 5 percent to $137 million. At Better Homes & Gardens and Family Circle, the company’s largest titles, advertising rose 3 percent and 13 percent, respectively, during the quarter. Total circulation revenues declined 2 percent. Looking ahead, ad revenues are down in the midsingle-digit range in the national media group.
Unique visitors across the company’s national media Web sites rose more than 30 percent to nearly 17 million during the period and page views averaged nearly 190 million a month. Meredith generated 855,000 online subscriptions during the quarter.