Time Inc, the largest magazine publisher in the United States, reported a 1.6 percent fall in quarterly revenue, hurt by a fall in subscription revenue and newsstand sales. Time posted a loss of $32 million, or 30 cents per share, in the second quarter ended June 30, compared with a profit of $75 million, or 69 cents per share, a year earlier.Revenue fell to $820 million from $833 million.The company's publications include People, Sports Illustrated and its namesake Time magazine, and this is its first earnings report following its spinoff from Time Warner Inc .
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 2.06% or $1.73/share to $85.53. In the past year, the shares have traded as low as $57.59 and as high as $88.13. On average, 7384520 shares of TWX exchange hands on a given day and today's volume is recorded at 7922968.
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