Financial news company TheStreet.com Inc. reported second-quarter earnings that beat analyst expectations by 2 cents per share and a 16 percent increase in revenue.
Revenue in the second quarter of 2015 was $17.1 million, an increase of 16 percenyt from $14.8 million in the prior year period.
Subscription services revenue in the second quarter was $14.0 million, an increase of 21 percent compared to the prior year period primarily due to revenue from BoardEx which was acquired on Oct. 31, 2014. Media revenue in the second quarter was $3.2 million, a decrease of 2 percent compared to the prior year period.
Net loss for the second quarter was $671,000 compared to a net loss of $641,000 in the prior year period. The company reported basic and diluted net loss per share attributable to common stockholders of 2 cents per share for the second quarter, the same as reported in the prior year period.
“The second quarter saw continued downward pressure on ad media and business-to-consumer subscription revenue lines as experienced by the industry as a whole,” said CEO Elisabeth DeMarse in a statement. “We are however very pleased with our progress in executing on our strategic plan, focusing on growth opportunities in business-to-business subscription revenues.”
