is making investors feel better.
The owner of the popular health information Web site today reported that its second-quarter loss narrowed to $1.16 million, or 2 cents per share, compared with $1.55 million, or 3 cents, a year earlier. Sales jumped 38% to $56.6 million, helped by gains in advertising and licensing revenue, the New York-based company says. Wall Street analysts expected a loss of 6 cents on revenue of $55 million, according to Thomson Financial.
"We made demonstrable progress in this quarter to solidify our leadership position as the most recognized and trusted brand of health information for consumers, physicians, employers and health plans,'' says Chief Executive Wayne Gattinella, in a statement.
Going forward, WebMD sees revenue for the year at $243.7 million to $248.7 million, ahead of expectations of $236.9 million. The net loss for the year will be between 2 cents and 8 cents. Analysts were forecasting a loss of 1 cent, Thomson Financial says.