Bankrate Earnings: Here’s Why the Stock is Rising Now
Bankrate Inc (NYSE:RATE) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 12.76%.
Bankrate Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 33.33% to $0.12 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Decreased 18.12% to $102.37 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bankrate Inc reported adjusted EPS income of $0.12 per share. By that measure, the company beat the mean analyst estimate of $0.09. It missed the average revenue estimate of $102.58 million.
Quoting Management: “We continue to see progress in the transition of our insurance channel to a higher-quality lead model, with our first sequential quarter over quarter growth since we began culling low performing lead sources a year ago,” said Thomas R. Evans, President and CEO of Bankrate, Inc. “Our banking and credit card verticals grew nicely, both showing double-digit growth over the same period last year,” Mr. Evans added.
Key Stats (on next page)…