Updated from July 27
Online jobs giant
posted strong quarterly earnings Tuesday.
The New York-based parent of Monster.com said that for the second quarter ended June 30, it earned $16.2 million, or 14 cents a share. That's up from the year-ago $9.6 million, or 8 cents a share. Revenue rose 26% from a year ago to $209 million.
The numbers were ahead of the Wall Street consensus estimate, which called for earnings of 13 cents a share on revenue of $202 million. Monster shares surged 6% early Wednesday, on top of Tuesday's 9% rise.
The company said its Monster division's deferred revenue rose to a new high of $178.9 million, while the Monster division's operating income rose 33% from a year ago on a 41% revenue gain. In addition to Monster.com, the company operates advertising and marketing units.
"The revenue and deferred revenue increases achieved by the Monster division in the quarter reflect the benefits of the sales force expansion and marketing activities we implemented earlier in the year, as well as contributions from our recent strategic acquisitions," CEO Andrew McKelvey said. "Given the traction of our business initiatives and the improving conditions of the broader employment marketplace, we are confident that we will continue to achieve revenue and earnings growth in the second half of 2004."
The company said it expects to post third-quarter earnings of 16 cents a share, up from 11 cents a year ago and in line with the Thomson First Call analyst update.
Monster shares surged $1.38 to $23.69.