Bankrate Earnings Fall Short, but Says 2008 is Off to 'Great Start'

Bankrate (RATE) Tuesday afternoon reported fourth quarter revenue of $25.2 million, with non-GAAP EPS of 33 cents, short of the Street consensus of $26.8 million and 39 cents. The company said it had “two record months followed by a soft December, when several display advertisers canceled booked business in that month as a result of anxiety in the mortgage and financial sectors.”

But the company also said that “January’s activity generated record traffic and click volume and 2008 is off to a great start.”

For the full year, the company now sees revenue of $167 million to $172 million, with EBITDA of $64 million to $68 million. Bankrate in December had forecast revenue of $140 million to $145 million, and EBITDA of $60 million to $65 million.

In the regular session, Bankrate fell $3.03, or 5.4%, to $53.77.

Comments

[Long-Short Guy:]

Any thoughts on whether TheStreet.com's recent acquisition of a competitor will have an impact on Bankrate?

2008 Feb 06 01:39 AM