17.06.2015 22:33:59
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Bankrate Profit Rises, Provides Weak FY Revenue Guidance; Stock Down 4%
(RTTNews) - Online financial information service provider Bankrate Inc (RATE) on Wednesday reported first-quarter net earnings of $5 million or $0.05 per share compared with $4.1 million or $0.04 per share last year.
Excluding items, adjusted earnings for the quarter were $0.19 per share compared with $0.18 per share a year ago.
Revenues for the quarter were $141.5 million compared with $136.3 million in the prior year.
Analysts polled by Thomson Reuters estimated earnings of $0.20 per share on revenues of $150.5 million for the quarter. Analysts' estimates typically exclude special items.
For the full year 2015, the company expects revenues of $520 million to $530 million, while analysts expect $612.4 million.
The company said factors affecting its guidance includes shifts in its Cards affiliate program, in particular, the movement of card issuer and third party affiliate links to other networks.
It also warned of typically low associated- affiliate revenue, as well as lower bankrate.com rate table click through and display revenue associated with reduced non-business hours demand from mortgage advertisers and reduced advertising spend from a large deposit advertiser.
For the second quarter, the company has forecast revenues in the range of $125 million to $130 million.
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