TheStreet.com reported Tuesday that its second quarter revenue rose nearly 10 percent and its loss for the quarter was smaller than the same quarter a year ago on higher subscription revenue.
The New York-based financial news company reported revenue in the second quarter of 2014 was $14.8 million, an increase of 9.5 percent from $13.5 million in the prior year period. Adjusted EBITDA was $502,000 in the second quarter compared to adjusted EBITDA of $297,000 in the prior year period.
Subscription services revenue in the second quarter was $11.6 million, an increase of 7.4 percent compared to the prior year period primarily due to increased subscribers for the investing newsletters. Media revenue in the second quarter was $3.2 million, an increase of 17.5 percent compared to the prior year period primarily due to increased demand from new and repeat advertisers.
Net loss in the second quarter was $600,000 compared to a net loss of $1.1 million in the prior year period. The company reported basic and diluted net loss per share attributable to common stockholders of 2 cents in the second quarter of 2014 compared to a loss of 3 cents in the prior year period.
“We are pleased by our revenue growth for the quarter along with a significant year-over-year increase in adjusted EBITDA,” said CEO Elisabeth DeMarse in a statement. “We continue to execute on our long-term growth strategy and remain focused on driving profitable revenue from our retail and institutional platforms and building shareholder value.”
Read the earnings release here.
