This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

TheStreet Posts Loss; Revenue Climbs

NEW YORK ( TheStreet) -- TheStreet (TST), the digital media group that publishes this Web site, posted a net loss of $1.7 million in the second quarter while delivering its highest revenue total in nearly three years.

The New York-based online financial news provider on Wednesday reported revenue of $15.1 million from its ongoing businesses in the latest quarter, as both subscription and advertising revenue increased. In the same period a year earlier, the company lost $340,000 on revenue of $14.7 million.

On an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) basis, TheStreet earned $700,000 in the latest three months, down slightly from equivalent earnings of $900,000 in the year-ago period.

"While the growth rates we experienced in the first quarter moderated as the level of uncertainty in the global financial markets increased and advertisers and investors became more cautious -- particularly as the quarter progressed -- we nonetheless saw a number of key proof points which confirm to us that the Company's strategy is gaining traction," said Daryl Otte, the company's CEO, in a press release. "Notably, revenue in both our ongoing businesses continued to grow and in total represented the highest it has been in eleven quarters."

TheStreet said average monthly unique visitors to its network of sites jumped 33% year over year in the second quarter, according to internal measurements, and that its average number of paid subscriptions totaled 93,125 in the second quarter, a 3.8% increase from year-ago levels.

"This audience growth, a direct result of the investments made in technology and distribution for our content over the past year, propelled the Company into the top ten rankings in June 2011, up two ranking points compared to the same period last year, as measured by comScore for its broad Business/Finance News/Research category," Otte said.

Revenue from premium services totaled $10.1 million in the latest quarter, an increase of 4%, as bookings rose 9% from last year. Average monthly churn was 3.6%, down from 3.9% a year earlier but up from 3.4% in the first quarter. Advertising revenue came in at $5 million, up 2% from last year and 10% on a sequential basis.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
TST $1.98 -4.30%
AAPL $126.39 -1.70%
FB $81.17 0.34%
GOOG $574.64 0.22%
TSLA $200.72 -0.85%

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs