Earnings: TechTarget Q2 Revs Up 19 percent; Online Up 28 Percent Despite Weakness
This story was written by Joseph Weisenthal.
B2B publisher TechTarget (NSDQ: TTGT) already pre-announced Q2 earnings and said results would come in light, so the official numbers are as expected. Revenue grew 19 percent to $29.4 million. Net income fell to $1.7 million from $3.2 milllion. On an adjusted bases, net income still fell, but less severely, from $4.9 million to $4.3 million. Online was still solid, with revenues up 28 percent. Print, not surprisingly, fell of a cliff, with revenue of $1.27 million, compared to $1.92 million. For 2008, the company expects online to show growth of 24-30 percent.
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By Joseph Weisenthal