Martha Stewart Living Omnimedia Inc. reported on Wednesday a narrower loss in the second quarter compared with a year ago as the media company benefited from strong sales of its merchandise and solid growth in online advertising revenue.
However, shares fell more than 10 percent in trading as its key publishing segment suffered a sales decline in the quarter. Company executives told investors during a conference call following the earnings release that broadcasting revenue would fall in the current quarter.
The company, which publishes the Martha Stewart Living magazine, manages "The Martha Stewart Show" and sells related products, posted a loss of $1.25 million, or 2 cents per share in the quarter ended June 30. That compares with a loss of $6.4 million, or 12 cents per share, in the year-ago period.
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