WebMediaBrands Slims Loss, But Revenues Show Continued Hard Times
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BtoB internet company WebMediaBrands (NSDQ: WEBM) (fka Jupitermedia) was able to narrow its losses considerably, but despite an improving ad environment, the comparison to last year was painful. The Q3 net loss was $4.6 million, a definite improvement over the $21.8 million the year before. The owner of Mediabistro network of sites said revenues from continuing operations for the third quarter of 2009 were $4.5 million, down from $7.6 million a year ago.
Earnings release | Webcast (5:00 PM ET)
| 3Q 2009 | 3Q 2008 | |
|---|---|---|
| EPS | -$0.13 | -$0.61 |
| Net Income | -$4.6M | -$21.8 |
| Revenue | $4.5M | $7.6M |
With the $18 million sale of its Internet.com unit to QuinStreet is expected to be completed this month, Alan Meckler, the CEO and chairman of WebMediaBrands, said in a statement that the company expects to realize significant cost savings over the next few months. Since Q109 was pretty devastating to publishers in general, the next few months should also show some improvement on the revenue side.
Posted In: Media & Publishing, Money, Earnings
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