TheStreet Inc. (TST , a leading financial news and information company, reported second-quarter earnings of $300,000, or 1 cent a share, compared with a year-earlier loss of $1.2 million, or 3 cents.
Revenue of $16 million fell 2% from $16.3 million in the same quarter of 2016, reflecting declines in premium subscriptions and licensing and syndication. This represents an improvement from the first quarter of 2017 in which revenue declined $800,000, or 5% from the same quarter of the prior year.
Business-to-business revenue, comprised of The Deal, BoardEx and RateWatch, rose 4% to $7.9 million. TheStreet said business-to-business revenue made up 49% of total revenue in the quarter compared with 46% for the same quarter a year earlier.
TheStreet said Tuesday, Aug. 1, that adjusted Ebitda in the second quarter was $2.2 million, an increase of $1.5 million or 215%.
Operating expenses in the second quarter fell 10% to $15.4 million from $17.2 million a year earlier.
"Our turnaround is gaining momentum," said David Callaway, TheStreet's president and CEO. "Costs are down. Cash is up. B2B revenue, and importantly deferred revenue, continues to rise, and our news coverage is attracting advertisers. On the subscription side, we're paring losses and seeing improvement each week."