Tue, Feb. 24, 4:39 PM
- WebMD Health (NASDAQ:WBMD) beat expectatations on revenues and EBITDA as traffic gains boosted ad revenue, and private-portal and info services revenues contributed to an overall 11% gain in sales.
- EBITDA of $48.1M beat expectations of $45.97M.
- Traffic numbers: 190M unique users/month (up 22% Y/Y) generating 3.7B page views for Q4 (up 17%).
- Revenue breakouts: Advertising and sponsorship, $127M (up 5.7%); Private portal services, $28.6M (up 30.6%); Information services, $7.1M (up 69%).
- WebMD used $25.1M in Q4 to buy back stock, has used another $3.2M since, and has about $32M left for buybacks under current authorization.
- The company guided to Q1 revenues of $141M-$143M (on the light side of expected $144.5M) and adjusted EBITDA of $37M-38M vs. expected $38.2M. For full 2015, it expects revenues of $615M-635M and EBITDA of $180M-$190M (both in line with expectations).
- Conference call at 4:45 p.m. ET.
- Shares -1% after hours.
- Press release
Tue, Feb. 24, 4:04 PM| Comment!
Tue, Feb. 10, 9:53 AM
- WebMD (NASDAQ:WBMD) is down 2.9% as Google (NASDAQ:GOOG) rolls out a blog post saying it will answer basic health questions with summary information, directly in search results.
- Google says one in 20 queries are for health info, and that its users will see typical symptoms and treatments, along with illustrations, without clicking any further.
- Google cites working with a team of doctors on the information and verifying it with the Mayo Clinic for accuracy.
- Everyday Health (NYSE:EVDY), which has its own symptom checker, is down 1.6% as well.
Tue, Jan. 13, 7:44 AM| Comment!
Nov. 24, 2014, 10:43 AM| Comment!
Nov. 5, 2014, 4:17 PM
- Though it slightly beat Q3 revenue estimates (while slightly missing on EPS), WebMD (NASDAQ:WBMD) is guiding for Q4 revenue of $152M-$162M; the midpoint is below a $161.2M consensus.
- The company has once more upped its buyback authorization; it now has $50M in available funds. $98.9M was spent on buybacks in Q3, and $10.2M has been spent thus far in Q4.
- Q3 results, PR
Nov. 5, 2014, 4:03 PM| Comment!
Oct. 2, 2014, 11:36 AM
- Stifel's Steven Rubis: "We are downgrading shares of WebMD (NASDAQ:WBMD) from Buy to Hold, as the preponderance of evidence associated with our channel checks reflect negative data trends and deterioration of possible positive catalysts seems to limit share price upside." His $52 target has been pulled.
- The downgrade comes as WebMD hosts its annual meeting, and announces a partnership with Walgreens. WebMD's virtual wellness-coaching services will be offered to Walgreens customers, and WebMD's content will be integrated with Walgreens' "digital experience and stores."
- Ahead of its annual meeting, WebMD affirmed its Q3 and full-year guidance.
Aug. 9, 2014, 8:38 PM
- "Many [online] advertisers now care more about who sees their ads than where they appear," writes the Columbia Journalism Review's Steven Waldman in a column about the threat posed to Web publishers by programmatic (automated) ad buying.
- Whereas a drug developer might have previously bought ads on popular health sites to reach potential customers, it can now use programmatic campaigns to reach them across the Web, aided by cookies that track when a user has shown an interest in particular drugs (or something related to them).
- The upshot? Advertisers are less likely to pay a big premium for inventory on high-profile sites. Waldman: "A marketer can now reach 'New York Times readers' without ever actually advertising in The New York Times, and for less money."
- Publishers are responding in part by embracing native ad formats such as sponsored content. But as Waldman observes, a site's image can get hurt when users conflate sponsored and organic material. "Publishers have ended up trading the one thing they had left—their credibility with readers—for a few scraps of CPM."
- Yahoo (NASDAQ:YHOO), increasingly using native ads to complement traditional display ads, saw a 24% Y/Y drop in display ad prices in Q2 to go with a 24% increase in ads sold. AOL, both a publisher and a programmatic ad tech provider, fared a little better in Q2.
- eMarketer expects U.S. real-time bidding ad spend (a key part of the programmatic market) to rise to $9B in 2017 from $3.4B in 2013. At the same time, it observes many advertisers are treading cautiously for now.
- Other Web publishers: IACI, DMD, TTGT, GKNT, WBMD
- Ad tech firms with programmatic exposure: CRTO, FUEL, RUBI, MRIN, TRMR, YUME, TUBE
Aug. 6, 2014, 12:07 PM| 3 Comments
Aug. 5, 2014, 6:05 PM
- WebMD Health Corp. (WBMD -1.6%) Q2 results: Revenue: $140.4M (+12.1%); Net Income: $9.7M (+273.1%); EPS: $0.23 (+360.0%); Quick Assets: $781.3M; CF Ops: $42.0M (+23.5%).
- Unique users per month: 179.4M (+43%); page views: 3.46B (+31%).
- 2014 Guidance: Revenue: $570M - 580M; non-GAAP EBITDA: $152.5M - 157.5M; net income: $36.5M - 40.5M.
- Q3 Guidance: Revenue: $140M - 143M; non-GAAP EBITDA: $37.5M - 39.5M; net income: $8.5M - 9.5M.
Aug. 5, 2014, 4:02 PM
Jul. 2, 2014, 10:01 AM
- Stifel's Steven Rubis has upgraded WebMD (WBMD) to Buy, and set a $60 PT.
- Rubis: "Our upgrade stems from strong industry macro trends and our view that current estimates for 3Q14 and 4Q14 advertising revenue growth are likely conservative." He now forecasts 10% Y/Y ad growth for both Q3 and Q4, up from prior estimates of 8% and 5%. Consensus is at 10.3% and 8%.
- Rubis adds macro trends and company-specific ad trends point to "solid" Q2 results, and thinks the Q2 report could be accompanied by a 2014 guidance hike.
- Roughly a quarter of the float was shorted as of June 13.
Jun. 19, 2014, 4:34 PM
- WebMD (WBMD) is suing Everyday Health (EVDY) for "trademark infringement, false advertising and unfair competition" in an NY district court.
- WebMD alleges Everyday's use of the WebMD trademark on its website are search ad campaigns is meant to "deceive and mislead consumers into believing they are visiting WebMD's trusted health and wellness resources," and that such practices also "mislead advertisers whose ads are placed by Everyday Health on areas of its website that infringe WebMD's brands."
- The company wants "a permanent injunction barring Everyday Health from engaging in such illegal acts," along with damages and attorney's fees.
- EVDY -1.8% AH.
Apr. 30, 2014, 5:32 PM
- WebMD (WBMD) expects Q2 revenue of $137M-$140M vs. a $139.7M consensus. Net income is expected to be in a range of $7.5M-$8.5M, up from Q1's $6.3M. Full-year guidance (hiked on April 14) is reiterated, and WebMD's buyback authorization has been raised by $30M to $44M. Shares +1.6% AH. (Q1 results, PR)
- Brightcove (BCOV) expects Q2 revenue of $29.7M-$30.2M and EPS of -$0.11 to $0.12, below a consensus of $31.1M and -$0.10. Full-year guidance is healthier: Revenue of $126M-$130M and EPS of -$0.19 to -$0.25 vs. a consensus of $128.5M and -$0.35. Shares +7.2% AH. (Q1 results, PR)
- LifeLock (LOCK) expects Q2 revenue of $113M-$114M and EPS of $0.03-$0.04 vs. a consensus of $112.6M and $0.06. Full-year guidance is for revenue of $460M-$468M and EPS of $0.44-$0.48 vs. a consensus of $463.5M and $0.45. Shares -3.8% AH. (Q1 results, PR)
Apr. 30, 2014, 4:04 PM| Comment!
WBMD vs. ETF Alternatives
WebMD Health Corp provides health information services to consumers, physicians and other healthcare professionals, employers and health plans through its public and private online portals and health-focused publications.
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