Bankrate Inc. Earnings: Swing Up, Topping Expectations
Bankrate Inc. (NYSE:RATE) reported its results for the fourth quarter. Bankrate Inc. is a publisher, aggregator and distributor of personal finance content on the Internet. The Company provides consumers independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes.
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Bankrate Earnings Cheat Sheet for the Fourth Quarter
Results: Reported a profit of $14 million (14 cents per diluted share) in the quarter. Bankrate Inc. had a net loss of $4.8 million or a loss 5 cents per share in the year earlier quarter.
Revenue: Rose 47.2% to $113.8 million from the year earlier quarter.
Actual vs. Wall St. Expectations: Bankrate Inc. reported adjusted net income of 19 cents per share. By that measure, the company beat the mean estimate of 14 cents per share. It beat the average revenue estimate of $103.5 million.
Quoting Management: “Our fourth quarter results were very strong with significant growth across all of our verticals, which we believe is testament to our position as a go-to source for consumers and advertisers in the online personal finance space. We believe that our branded, content-rich, destination sites continue to be a valuable resource for consumers,” said Thomas R. Evans, President and CEO of Bankrate, Inc.
The company beat estimates last quarter after being in line with expectations in the third quarter with net income of 14 cents per share.
Looking Forward: Expectations for the company’s next quarter results are lower than they have been. Over the past sixty days, the average estimate for first quarter of the next fiscal year has fallen from 20 cents per share to 19 cents. The average estimate for the fiscal year is 58 cents per share, a rise from 56 cents ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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