Gemstar-TV Guide Posts Strong 2Q Earnings
Guidance, Media Networks, TV Guide Units Generate Growth
By Steve Donohue -- Multichannel News, 7/27/2007 12:09:00 PM
Driven by growth in its media networks and publishing units, Gemstar-TV Guide International posted $24.7 million in second-quarter operating income on $155.6 million in revenue.
Gemstar said Friday that operating income jumped 63% compared with the second quarter of 2006 and revenue rose 16% compared to this time last year.
Revenue from guidance technology and solutions increased 40% to $70.7 million during the quarter, driven by growth in interactive-program-guide licensing, Gemstar said.
The company added that revenue at its media-networks division -- which includes TV Guide Network and interactive horse-racing channel TVG Network -- rose 3$ to $49.9 million.
TV Guide magazine posted $35 million in revenue during the second quarter, up 2% from the same period in 2006. Gemstar attributed the growth to a 16% growth in advertising revenues, fueled by a 25% jump in the number of ad pages in TV Guide.
