Earnings: Economist.com Users Up 39 Percent, Annual Revenues Up Eight Percent
This story was written by Robert Andrews.
At three million, Economist.com got 39 percent more unique users in a year that saw eight percent higher revenue. Results for the year to March 2008 showed 199 million page views and 266.4 million revenue, leading to 23 percent better profit of 44.3 million. Electronics revenue now accounts for 17 percent of the company overall, and the focus now is on CFO.com, the US site for financial executives. Despite industry caution over the economy, the group said: "The Economist Group is well-positioned to outperform the market despite the weak dollar, advertising shift to online and the uncertain economic outlook." Economist publisher and MD Andrew Rashbass will be promoted to CEO, replacing Helen Alexander, who will become an adviser to Bain Capital, in addition to her advisory roles for Rolls Royce and Centrica.
By Robert Andrews