Categories: OLD Media Moves

TheStreet reports third-quarter loss on lower revenue

Financial news and information company TheStreet.com reported a third-quarter loss and revenue that was lower than analyst expectations.

The New York-based company reported a net loss from continuing operations of $1.1 million, or 2 cents per share. In the third quarter of 2017, the company reported a net loss from continuing operations of $700,000, or 2 cents per share.

Revenue for the quarter was $13 million, down from the $13.3 million in the third quarter a year ago due to a decline in advertising and below analyst expectations of $13.4 million.

“As promised, our efforts over the last several months to focus on our premium business have resulted in September being the first month with a year-over-year subscription revenue increase in more than three years,” said CEO David Callaway in a statement.

TheStreet’s shares fell 3 cents to $1.80 in Tuesday trading. The results were released before the market opened on Wednesday.

Business-to-business revenue in the third quarter totaled $6.3 million, up 5 percent from the same quarter a year ago.

Business-to-consumer revenue in the third quarter fell 9 percent to $6.7 million primarily due to a strategic shift as it relates to advertising.

However, total deferred revenue from subscriptions was $22.6 million for the third quarter, up $2.4 million, or 12 percent compared to the third quarter in 2017.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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