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TheStreet Reports First Quarter 2017 Results
|·||Total Revenue of $15.3 million down $0.8 million, or 5% as compared to first quarter last year.|
|·||Business-to-Business Revenue of $7.4 million, up 4% year-over-year. Adjusted for exchange rates, Revenue was $7.6 million, up 7% year-over-year.|
|·||Business-to-Consumer Revenue of $7.9 million, down 12% year-over-year, primarily due to declines in the Premium Subscription business.|
|·||Operating expense for the first quarter of 2017 was $16.2 million, a decrease of $3.0 million, or 16%, from $19.2 million for the first quarter of last year.|
|·||Consumer Advertising up 2% year-over-year due to a significant increase in CPMs.|
|·||GAAP net loss attributable to common stockholders of $1.1 million, or ($0.03) per share, versus a net loss attributable to common stockholders of $3.4 million, or ($0.10) per share in the prior year period.|
|·||First Quarter 2017 and 2016 net loss included planned restructuring and other one-time charges of $0.2 million and $2.7 million, respectively.|
|·||Adjusted EBITDA of $0.8 million increased 3% as compared to the first quarter 2016.|
|·||Cash, cash equivalents, restricted cash and marketable securities of $24.6 million increased $1.2 million as compared to December 31, 2016.|
NEW YORK, May 9, 2017 — TheStreet, Inc. (Nasdaq: TST) a leading financial news and information company, today reported financial results for the first quarter ended March 31, 2017.
For the first quarter of 2017, the Company reported revenue of $15.3 million, net loss attributable to common stockholders of $1.1 million, or ($0.03) per basic and diluted share, and an Adjusted EBITDA(1) of $0.8 million. The first quarter net loss included planned restructuring and other charges related to severance, as well as lower premium subscription revenue, partially offset by revenue growth generated by our institutional business and savings from restructuring and cost cutting measures implemented during 2016.
“The turnaround we’ve been talking about for months began to show results in the first quarter,” said David Callaway, President and CEO. “Rising institutional revenue, tapering declines in consumer subscriptions, and renewed interest in our improved news coverage from advertisers, particularly in video, are reflecting our new management team’s hard work during 2016.” David Callaway continued, “This is just the beginning, and we look forward to showing continued improvement in the next three quarters.”
The following information was filed by Thestreet, Inc. (TST) on Tuesday, May 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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