Time Inc. (TIME - Snapshot Report), one of the leading media companies, posted first-quarter 2016 adjusted loss of 11 cents a share, in line with the Zacks Consensus Estimate. However, the loss widened from the prior year quarter loss of 6 cents.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has witnessed downward revision over the past 60 days. If we look at Time’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 45.1%.

Revenues: Time Inc. generated revenues of $690 million that increased 1.5% year over year and also surpassed the Zacks Consensus Estimate of $678 million primarily driven by acquisitions and growth in Digital advertising revenues. However, foreign currency headwinds and fall in print advertising revenue partially offset the revenue growth.

Management expects revenues to increase in the range of 1% to 5% in 2016.

Key Events: The company declared a regular quarterly dividend of 19 cents per share to be paid on June 15, 2016 to stockholders of record on May 31, 2016.

Zacks Rank: Currently, Time Inc. carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.