Access Newswire misses earnings estimates by $0.17 per share
Revenue declines 12% year-over-year as media firm falls short of analyst forecasts in latest quarter.
Access Newswire reported a quarterly earnings miss on Tuesday, with adjusted earnings per share declining to $0.45 from $0.62 in the same period last year, missing analyst expectations by $0.17.
The media company also posted revenue of $124.7 million, down 12% from $141.9 million a year earlier, falling short of estimates. Access Newswire attributed the decline to lower advertising demand and reduced subscription revenue amid a challenging macroeconomic environment.
Operating income fell to $18.3 million from $25.1 million in the prior-year quarter, reflecting higher costs and softer revenue streams. The company maintained its full-year guidance, citing long-term growth initiatives despite near-term headwinds.
Access Newswire’s stock traded marginally lower in pre-market trading following the release.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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