TheStreet.com posted a $3.2 million profit in the second quarter as strong gains in advertising and subscriptions drove a 60 percent year-over-year revenue improvement.
The company, which publishes a Web site and provides online financial commentary, analysis and news, earned 12 cents a share in the quarter. In the year-ago second quarter, TheStreet.com lost $2.3 million, or 9 cents a share, including a loss of $3.9 million, or 15 cents a share, from discontinued operations.
On a continuing-operations basis, earnings rose 94 percent in the latest quarter from a year ago.
Revenue in the second quarter of 2006 totaled $12.4 million, up from $7.8 million a year ago. TheStreet.com’s subscription revenue rose 57 percent from a year ago to $8.4 million. The number of paid subscribers to the company’s premium services increased by about 3,800, or 4%, from April through June. Subscription bookings were $9.2 million, up 39 percent from a year ago but down 9 percent from the first quarter.
Read TheStreet.com’s story about its own earnings here.
