TheStreet.com reports record revenue

Financial news web site TheStreet.com reported Tuesday that its third-quarter revenue increased 24 percent to a record $16.1 million, according to a short story on its site.

The story stated, “Marketing services revenue, which comprises advertising and interactive marketing services revenue, totaled $6.9 million for the third quarter of 2007. Advertising revenue totaled $4.6 million for the current quarter, and interactive marketing services revenue, derived from Promotions.com subsequent to the Aug. 2 acquisition, totaled $2.3 million.

“In response to an analyst question during a conference call, Clarke said he expects advertising revenue to accelerate during the fourth quarter, with the firm aiming to eventually grow its ad-sales staff to about 20 from around 14 currently.

“The company reported a 97% year-over-year increase in non-financial advertising revenue in the quarter. Marketing services and paid services revenue in the quarter accounted for 43% and 57% of total revenue, respectively.”

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