TheStreet.com's profit doubles
Business and financial news web site TheStreet.com reported fourth-quarter profits that were more than double the same quarter in 2005, according to an AP story about the earnings.
The story stated, “TheStreet.com earned $4 million, or 14 cents per share, in the fourth quarter, up from $1.8 million, or 7 cents per share, in the year-earlier period. Revenue rose 44% to $14.4 million in the latest quarter.
“Analysts polled by Thomson Financial forecast 13 cents per share profit on $14 million revenue.
“TheStreet.com makes money by booking subscriptions to its investment news Web site and running advertisements. The company said it is looking for more ways to deliver advertising revenue by expanding the site.
“In the fourth quarter, Chief Executive Thomas Clarke Jr. said the company boosted ad revenue via ‘more content initiatives such as TheStreet.com TV and TheStreet.com Ratings on our free site.’
“Advertising revenue in the fourth quarter rose 49% to $4.8 million. Subscription revenue rose 36% to $8.8 million.”
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