Earnings: BankRate Matches Lowered Outlook; Holds Guidance
This story was written by Joseph Weisenthal.
Financial info portal BankRate announced Q2 revenue of $40.2 million, a 73 percent increase from $23.2 million in the year-ago quarter. The top-line figure matches what the company said back in early July, when it lowered its forecasts due to a softening display market. The company offers a few different EPS figures, depending on what you want to adjust, but it looks like core earnings, were $.39 per share, up from $.35 per share a year ago. Said CEO Tom Evans in the release: "While our display advertising has been relatively soft, the other components of our business, such as CPC, deposits, insurance, retirement and credit cards are all doing very well." That should be comforting to observers hoping that more performance-based types of advertising hold up. Full year revenue guidance was maintained at $164-$169 million.
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By Joseph Weisenthal