Earnings: Playboy Q3 Revenues Flat; Digital Business Stalled

Playboy (NYSE: PLA) Enterprises reported Q3 revenue of $82.8 million, a shade above last year’s $82.3 million. Net income more than doubled to $2.5 million from $1.1 million, with an improved licensing business and a lower quarterly tax rate helping to boost the bottom line. Operating income was up 11 percent to $4.2 million from $3.7 million. Some highlights:

— The entertainment group saw a modest revenue decline to $49.6 million from $50.2 million, as a fall off in television revenue was partially offset by strength in Europe, which was aided by currency effects. Online/mobile revenue was flat at $15.3 million, as growth in advertising and e-commerce was offset by weakness at the company’s pay sites and its mobile offerings.

— Publishing revenue declined six percent to $23.1 million, which the company attributed to weakness in circulation and newsstand sales. This was actually offset by a 4 percent increase in ad revenue.

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