Digital media conglomerate People (NASDAQGS:PPLI) will be reporting results this Monday after market hours. Here’s what you need to know.
People beat analysts’ revenue expectations last quarter, reporting revenues of $436.7 million, down 1.5% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates.
Is People a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting People’s revenue to decline 1.1% year on year, improving from the 18.2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at People’s peers in the media & entertainment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Stride delivered year-on-year revenue growth of 3%, beating analysts’ expectations by 3.8%, and MediaAlpha reported revenues up 22.7%, topping estimates by 7.2%. Stride traded down 3.2% following the results while MediaAlpha was up 20.5%.
Read our full analysis of Stride’s results here and MediaAlpha’s results here.
Investors in the media & entertainment segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. People is down 13.7% during the same time and is heading into earnings with an average analyst price target of $56.73 (compared to the current share price of $35.63).
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