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TheStreet -2.3% as revenues dip amid ad shift

Published 08/08/2018, 03:44 PM
Updated 08/08/2018, 03:44 PM
© Reuters. TheStreet -2.3% as revenues dip amid ad shift
  • TheStreet (NASDAQ:TST) is off 2.3% after its Q2 earnings produced a loss vs. break-even expectations and revenues that dipped and fell short.
  • Net income of $27.5M included a gain of $27.6M from selling RateWatch; net loss from continuing operations was $0.9M, vs. a year-ago loss of $0.4M. The company classified RateWatch as discontinued after wrapping up its sale for $33.5M June 20.
  • Revenue from continuing operations dropped 3% and deferred subscription revenue rose 8% to $23.2M.
  • "With the successful RateWatch divestiture behind us, we are now focused squarely on continuing our growth momentum in our paid subscription products," said CEO David Callaway.
  • Revenue breakout: Business-to-Business, $6.7M (up 12%); Business-to-consumer, $6.9M (down 15%, part of a strategic shift away from advertising).
  • Liquidity came to $44.9M (up $31M from Dec. 31).
  • Press release
  • Now read: Facebook (NASDAQ:FB): Cambridge Bears, Round 2


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