Time Revenue Slips 1.6%


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.

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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 . (Reporting by Soham Chatterjee in Bangalore; Editing by Savio D'Souza)