TheStreet Inc. Earnings: Big Challenges Continue
TheStreet Inc. (NASDAQ:TST) reported its results for the first quarter. TheStreet, together with its subsidiaries, provides a variety of subscription-based and advertising-supported content and tools through a range of online platforms, including web sites, mobile devices and email services.
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TheStreet Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $4.4 million (14 cents per diluted share) from $2.6 million (loss of 9 cents per share) in the same quarter a year earlier.
Revenue: Fell 9.2% to $12.8 million from the year-earlier quarter.
Quoting Management: “The macro-environment has been challenging recently for our businesses, but we have valuable, scalable businesses and we are keenly focused on improving our execution both on the revenue and expense sides,” said Elisabeth DeMarse, the Company’s Chief Executive Offer and President. “In my first few weeks at TheStreet, we diligently have taken several measures to bring our cost structure in line with current revenue levels, such as pivoting more towards a contributor/freelance model with a select few full time editorial staff, a strategy I have successfully implemented previously. We will continue to focus on implementing other initiatives to grow and improve the Company’s operations and create value. I couldn’t be more excited about the core assets we have to work with as I focus my energy on maximizing the monetization of these assets,” concluded DeMarse.
Revenue has dropped in the past two quarters. In the fourth quarter of the last fiscal year, revenue declined 2.8% to $14.3 million from the year-earlier quarter.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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