Save on Streaming Android 13 Best iPad Best Samsung Phone Best Password Manager Sony Headphones Deal Gym Membership Savings MLB 2022
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

TheStreet.com trims losses in 2Q

Online financial information provider TheStreet.com Inc. (Nasdaq: TSCM) reported a loss of $6.8 million, or 38 cents a share, on sales of $3.3 million.

Its shares closed up 2 3/8 to 31 3/4 ahead of the earnings report.

First Call consensus expected TheStreet.com to lose 37 cents a share in the quarter.

Excluding charges related to executive compensation, it lost $6.2 million, or 30 cents a share.

On the bright side, the $3.3 million in sales represents a 192 percent jump versus the year-ago quarter when it lost $4.7 million, or 61 cents a share, on sales of $1.1 million.

In the quarter, advertising sales jumped to $1.7 million, a 197 percent improvement compared to the year-ago quarter when it recorded sales of $586,000.

Subscription sales grew to $934,000, a 108 percent gain versus the $448,000 it recorded in the same period last year. At the end of June, TheStreet.com had a subscription base of 66,000 users.

As far as traffic is concerned, TheStreet.com said it averaged 1 million unique visitors in the quarter, up from 661,000 in the first quarter.

"We are very proud of the growth in revenue for the quarter," said CEO Kevin English in a prepared release. "We are encouraged about continued strong growth in both advertising sales and our subscriber base."

After its initial public offering in May, TheStreet.com shares soared to an all-time high of 71 1/4. The stock hit a low of 25 1/16 in June.

All three analysts following the stock rate it a "buy."