Earnings: WebMD's In Q1 Losses On Charges; Revenues Up 14 Percent
This story was written by Rafat Ali.
WebMD (NSDQ: WBMD), which has already pre-announced its lower guidance for the year, has now announced its Q108 results, and revenue came in at $81.7 million compared to $71.9 million in the prior year period, an increase of 14 percent. Net losses came in at $23.3 million compared to a net income of $0.7 million in the year-ago quarter...it says that figure includes a $27.4 million impairment charge related to "a reduction in fair value of the company's auction rate securities investments." Excluding that, net income was $4.1 million for the quarter.
Segment wise, online services segment revenue was $78.4 million compared to $68.4 million in the prior year period, an increase of 15 percent. Ad and sponsorship revenue increased 18 percent to $56.1 million. Private portal licensing revenue increased 9 percent to $21.9 million. Publishing and other services segment revenue was $3.3 million compared to $3.5 million in the prior year period, a decrease of 7 percent. More details here.
By Rafat Ali