The addition of more video content boosted ad revenue for financial news site TheStreet.com (Nasdaq: TSCM), which posted strong performance numbers for 4Q06 and the year as a whole. The Street.com’s net income in 4Q came in at $4 million, a 125 percent increase over $1.8 million for t4Q05. Revenue for the quarter was $14.4 million, a 44 percent gain from the $10 million from 4Q05. Earnings per share were 14 cents, compared to 7 cents for the year-ago period.
In a statement, Thomas Clarke, Jr., chairman and CEO of TheStreet.com, cited “solid progress within our strategy of increasing the company’s advertising-based revenue by delivering more content initiatives such as TheStreet.com TV and TheStreet.com Ratings on our free site.” Other highlights from the company’s Thursday morning statement included:
—4Q ad revenue reached $4.8 million, a 49 percent increase over the $3.2 million recorded in 4Q05.
—Viewership of TheStreet.com TV grew throughout 2006, increasing to 8 million video views and contributing more than 7 percent of total advertising revenue in 4Q.
—The quarter’s subscription revenue was $8.8 million, a 36 percent increase over the $6.5 million for the same period last year.
—For the full year, net revenue grew by 51 percent
—The Company served 880 million page views in 2006, an increase of 80 percent from 2005.
—Average monthly unique visitors grew to 4.4 million for the year, a 46 percent increase from last year. Earnings release | Webcast (11:00 a.m. EST )