- TheStreet (NASDAQ:TST) is 1.8% lower after its Q4 earnings this morning, where revenues dropped slightly year-over-year but largely met expectations.
- Declines in its business-to-consumer business were mostly offset by gains in business-to-business. The company recently closed on a sale of the B2B business to Euromoney, and expects to distribute a substantial portion of those proceeds to shareholders.
- Net loss from continuing operations was $3M, down from a prior-year profit of $3.5M mainly due to a $21.5M goodwill impairment of the B2C business (offset largely by a $21.3M tax benefit).
- EBITDA was $2.4M.
- Revenue breakout: Business to business, $6.7M (up 5.6%); Business to consumer, $7.2M (down 5.7%).
- Cash and equivalents were up $25.5M Y/Y to $39.4M, mainly from the $28.2M sale of RateWatch along with cash from operations of $2.3M.
- Press release