TheStreet.com Earnings: Still Working on the Turn Around
TheStreet Inc. (NASDAQ:TST) reported its results for the second 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 Inc. Earnings Cheat Sheet
Results: Loss widened to $1.9 million (6 cents per diluted share) from $1.7 million (loss of 5 cents per share) in the same quarter a year earlier.
Revenue: Fell 17% to $12.5 million from the year-earlier quarter.
Quoting Management: “During the quarter we made great progress on the expense side of the business. By realizing more efficiencies and right-sizing our cost structure, we were able to decrease total operating expenses from ongoing operations by 20% year over year. However, on the revenue side, the macro-environment continues to be challenging for our businesses, but I remain just as excited as when I joined about the assets we have to grow our business and create value for our shareholders,” said Elisabeth DeMarse, Chairman, President and Chief Executive Officer.
Revenue has been on the decline for three quarters in a row. In the first quarter, revenue declined 9.2% to $12.8 million while the figure fell 2.8% in the fourth quarter of the last fiscal year from the year earlier.
Cost of sales dropped to $5.7 million, down 16.2% from the year-earlier quarter. Last quarter, cost of sales was 45.7% of revenue versus 45.3% a year earlier.
For the fiscal year, the average estimate has been unchanged at 15 cents a share.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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