TheStreet.com reported a first-quarter loss after posting a profit in the same quarter a year ago and said its revenues fell.
“TheStreet.com reported a loss of $3.1 million, or 10 cents a share, excluding a noncash impairment charge of $24.1 million, one-time restructuring costs and severance payments totaling $2.4 million, and a valuation allowance for a deferred tax asset of $16.1 million. Including those items, the company lost $45.7 million, or $1.50 a share, in the quarter.
“Of the impairment charge, $22.6 million was for goodwill and intangible assets, and $1.5 million was related to writing down a long-term investment.
“Analysts surveyed by Thomson Reuters were expecting a first-quarter loss of 3 cents a share, excluding items, and revenue of $15.4 million.
“For the year-earlier quarter, the company had net income of $2.4 million, or 7 cents a share.”
Read more here.
Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…
Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…
The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…
CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…
Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…
Members of the CoinDesk editorial team have sent a letter to the CEO of its…