Time, publisher of Sports Illustrated, Time and People, cut its full-year revenue forecast for the second time as revenue from print advertising falls steadily.
The company, spun off from Time Warner in June, lowered its revenue forecast to $3.27 billion-$3.30 billion from $3.30 billion-$3.37 billion.
Time's profit fell to $48 million, or 44 cents per share, in the third quarter ended Sept. 30, from $68 million, or 62 cents per share, a year earlier.
Revenue rose to $821 million from $818 million.
Wall Street had expected Time to deliver quarterly earnings of 36 cents a share on revenue of $818 million, according to a consensus estimate from Thomson Reuters.