This story was written by Joseph Weisenthal.
Broadening financial info site TheStreet.com (NSDQ: TSCM) announced Q1 revenue of $18.9 million, a 31 percent year-over-year increase from $14.5 million. However, because of higher costs across the board, net income slipped 19 percent to $2.4 million ($.07 per share) from $3 million ($.11 per share). Overall, advertising revenue grew 18 percent to $6 million, while marketing services revenuederived from Promotions.comaccounted for $2.2 million in revenue. Excluding this acquisition, revenue would have grown 15 percent. The numbers are disappointing the market, which was looking for revenue close to $20 million and EPS of $.10 per share. As such, the stock is cratering pre-market, currently down about 13 percent.
By Joseph Weisenthal