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April 14, 2014 /PRNewswire/ -- WebMD Health Corp. (NASDAQ: WBMD), the leading source of health information, today announced that it expects first quarter results to exceed its previously provided financial guidance. WebMD also updated its full year 2014 guidance. WebMD's financial guidance was previously provided on
February 20, 2014.
For the first quarter of 2014, WebMD expects:
Revenue to be at the high end of the range previously provided;
Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") and net income to be slightly above the high end of the range.
For the full year 2014, WebMD expects to be in the top half of the ranges previously provided for revenue, Adjusted EBITDA and net income.
"The update to our guidance that we are providing today reflects recent improvements in our sales activity compared to our experience in the early weeks of 2014," said
David Schlanger, Chief Executive Officer of WebMD. "We are having very positive dialogue with our customers about how WebMD can help address their evolving business needs and we are continuing our investments in new product and service offerings to better serve those needs and realize future growth opportunities."
Traffic UpdateDuring the first quarter, traffic to the WebMD Health Network reached an average of 174 million unique users per month generating 3.5 billion page views for the quarter, increases of 32% and 26%, respectively, from the prior year.
Repurchase ProgramAs of the close of business on
April 11, 2014, the amount available under WebMD's existing stock repurchase program was
$18 million. Under the repurchase program, WebMD may repurchase shares from time to time in the open market, through block trades or in private transactions, depending on market conditions and other factors.
As of the close of business on
April 11, 2014, WebMD had approximately 38.8 million shares of its Common Stock outstanding (including approximately 1.0 million shares of unvested restricted stock).
Final Results to Be Released on April 30, 2014The information in this release is preliminary. WebMD is completing its normal closing process and, as previously announced, will release its first quarter results on
April 30, 2014, at approximately
4:00 p.m. (Eastern time) and will hold a conference call with investors and analysts to discuss its first quarter results and provide additional commentary at
4:45 p.m. (Eastern time) on that day. The call can be accessed at
www.wbmd.com (in the Investor Relations section). A replay of the audio webcast will be available at the same web address.
About WebMD WebMD Health Corp. (NASDAQ: WBMD) is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers, and health plans through our public and private online portals, mobile platforms and health-focused publications.
The WebMD Health Network includes WebMD Health, Medscape, MedicineNet, eMedicineHealth, RxList, theheart.org, Medscape Education and other owned WebMD sites.