Salon.com (Nasdaq: SALN) beat analyst forecasts in the first quarter.
After market close Tuesday, the online media company reported a fiscal first quarter loss of $4.5 million, or 36 cents per share. First Call's survey of two analysts predicted a loss of 41 cents per share for the quarter ended June 30.
First quarter revenue of $1.8 million was up 75 percent year-over-year and down 31 percent sequentially. June's traffic of 2.5 million was 92 percent higher than 1.3 million a year earlier, but 26 percent lower from March.
The company delivered 451 million ad impressions in June, compared to 482 million in March and 159 million a year ago. Salon.com reduced marketing expenses during the quarter as the company moved to cut costs in the wake of a fourth quarter that saw wider-than-expected losses.
"The company has demonstrated an ability to build a huge audience online with efficient 'guerrilla-style' marketing campaigns," said Michael O'Donnell, CEO and president.
Shares of Salon.com have gradually fallen since January. The stock closed Tuesday's regular trading at 1 1/2, up 1/8 for the session.
First Call Corp. consensus expected it to lose 23 cents a share in the quarter.
The $2 million in sales marks a 300 percent jump from the year-ago quarter when it lost $1.9 million, or 9 cents a share, on sales of $514,000.
GoAmerica shares closed off 1 1/8 to 10 5/8 ahead of the earnings report.
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