TheStreet.com Inc. (TSCM) , parent company of this Web site, reported a second-quarter loss this morning that was smaller than Wall Street's expectations.
TheStreet.com also reported its revenue rose 116% to $7 million from revenue of $3.3 million in the second quarter of 1999.
For the second quarter ended June 30, TheStreet.com said it lost $13.1 million, or 52 cents a diluted share, excluding goodwill and a noncash compensation charge for certain stock options, compared with a net loss of $6.2 million, or 30 cents a share, in the year-earlier quarter.
The consensus estimate of seven analysts surveyed by
First Call/Thomson Financial
was for a loss of 55 cents a share.
As of June 30, the company said, its average monthly number of unique visitors rose 190% to 2.9 million compared with the second quarter of 1999. The average number of monthly page views during the three-month period rose 180% to 42 million from 15 million in the year-ago quarter.
The company said it had more than $90 million in cash on June 30.