TheStreet.com reports lower earnings
Financial news Web site TheStreet.com reported Tuesday that its first-quarter earnings fell 22 percent due to higher expenses, according to a Crain’s New York story.
Crain’s New York wrote, “Results fell short of analyst estimates, sending shares lower in premarket trading. Net income after preferred stock dividends fell to $2.4 million, or 7 cents per share, from $3 million, or 11 cents per share, during the same period last year.
“Net revenue rose 31% to $18.9 million from $14.5 million during the year-ago period.
“Analysts, on average, forecast earnings of 10 cents per share on revenue of $20 million.
“Marketing services revenue, which encompasses advertising and interactive markets services, increased 62% to $8.2 million. Paid services revenue, which includes subscriptions, syndication and licensing, grew 14% to $10.8 million.”
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