Categories: OLD Media Moves

TheStreet reports third-quarter profit

The parent of TheStreet.com and The Deal reported a profit for the third quarter as revenue rose 14 percent, to $16.7 million, from a year ago.

Leon Lazaroff of TheStreet writes, “Profit was $400,000, or one cent per share, compared to a two cent loss from a year ago. Shares of the New York-based media company closed Wednesday at $1.44.

“TheStreet reported $13.7 million in revenue from subscriptions, newsletters and other services, an increase of 17% from a year earlier. Advertising sales grew 2% to $3 million. Web site traffic rose 26% during the first nine months of 2015.

“TheStreet posted operating income of $629,000, compared to a loss of $494,000 from a year ago, and ended the third quarter with $30.3 million in cash and cash equivalents.

“‘The third quarter showed expected improvement in our business,’ TheStreet Chairman and CEO Elisabeth DeMarse said in a statement. ‘We continue to execute on our strategic plan, focusing on growth opportunities in business-to-business subscription revenues, while maintaining our footprint in consumer businesses.'”

Read more here.

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.