TheStreet.com reports higher revenue on smaller loss

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.