posted a second-quarter loss of $6.8 million, or 38 cents a share, compared with the year-earlier loss of $4.7 million, or 61 cents a share. (The company had more shares outstanding in the latest period.)
Excluding a noncash compensation charge, TheStreet.com, which publishes this Web site, posted a loss of $6.2 million, or 30 cents a share. The
consensus of Wall Street analysts called for a loss of 37 cents a share.
The New York-based company said second-quarter revenue nearly tripled, to $3.3 million from $1.1 million a year earlier. Revenue for the quarter ended June 30 climbed 64% from the first quarter's $2 million.
, which led TheStreet.com's May initial public offering, forecast in a July 19 research note that TheStreet.com would report second-quarter revenue of $3 million.
Advertising revenue reached $1.7 million, up 197% from the year-earlier quarter's $586,000 and up 55% from the first quarter's $1.1 million. Subscription revenue hit $934,000, up 108% from $448,000 in the year-ago period and 31% over $712,000 in the first quarter.
Subscriptions climbed to 66,000. In its May IPO documents, the company said it had about 51,000 subscribers. Goldman, in its July 19 note, said it expected TheStreet.com to have 65,000 subscribers at the quarter's end. In a June 7 research report the firm had estimated subscriptions had grown to 70,000.
In a press release, the company noted that its joint venture with
New York Times
was on track to be launched in the fourth quarter. The venture will involve a joint newsroom that will focus on continuous business-news coverage. Stories produced by the venture will run on both
The New York Times