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TheStreet Posts Higher Second-Quarter Sales as Advertising Soars

NEW YORK (TheStreet) -- TheStreet Inc. (TST), owner of the business news Web site, said revenue in the second quarter grew on higher subscription sales and a jump in advertising.

Sales increased 9.5% to $14.8 million, as earnings on an adjusted basis rose to $500,000 from $300,000 during the same period a year earlier. Advertising sales, defined as "media revenue," surged 18% to $3.2 million. The New York-based media company, which also owns The Deal, reported a net loss of $600,000. 

Subscription services in the quarter gained 7.4% to $11.6 million, in part on marketing around the release of Jim Cramer's Get Rich Carefully, said Chairman and Chief Executive Officer Elisabeth DeMarse. Cramer, a co-founder of TheStreet, hosts CNBC's Mad Money. The company ended the quarter with $59.1 million in cash and cash equivalents.

"We have turned the corner and are growing media revenue," DeMarse said in an investor conference call. "We love the visibility that the subscription model affords." 

--Written by Leon Lazaroff in New York

Leon Lazaroff is TheStreet's deputy managing editor.

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