Bankrate's 2nd-quarter loss widens on charges

NEW YORK (AP) — Bankrate Inc. said Wednesday that its loss grew more than tenfold in the second quarter as the online personal finance portal absorbed hefty one-time charges related to acquisitions and other costs. But its adjusted results beat Wall Street estimates.

The company reported a loss of $39.7 million, or 44 cents a share, for the three months ended June 30. That compares with a loss of $3.7 million, or 6 cents a share, in the prior-year quarter.

Excluding share-based compensation expenses and other special items, Bankrate reported an adjusted profit of 12 cents a share in the latest quarter.

On that basis, the results beat analysts' consensus forecast for a profit of 11 cents a share, according to FactSet.

Revenue more than doubled to $98.4 million, from $38.3 million a year earlier. Analysts were expecting revenue of $95.9 million.

Display advertising revenue declined 8 percent in the quarter versus the same period last year, while hyperlink revenue increased 29 percent. Lead generation revenue also increased sharply.

Print publishing and licensing revenue for the quarter grew 21 percent from a year earlier.

Shares in Bankrate, which began trading as a public company in June, rose 2 cents to $15.50 in extended trading following the release of its earnings report. They ended the regular trading session down 42 cents, or 2.6 percent, at $15.48.

  • Treasure trove of British newsreels reveals Top Gear's ancestors 12 hours ago
    Treasure trove of British newsreels reveals Top Gear's ancestors

    Long after television grew to dominate American and British homes, newsreel producer British Pathé kept at it, documenting the news of the day until finally ceasing production of new short films in 1970 after 60 years of effort. Last week, all of British Pathé's 85,000 films were put online — including dozens of fascinating, rare and often weird car films that resemble nothing so much as a jet-age Top Gear.

  • Nissan tests self-cleaning paint that could make car washes obsolete 14 hours ago
    Nissan tests self-cleaning paint that could make car washes obsolete

    During this vile, never-ending winter, motorists had three options to keep their cars clean: Shell out on regular car washes; slave away in the cold, wind and snow washing it yourself, or screw it and just drive a dirty car. I, like many, chose the last option. But if only I'd been able to test Nissan's self-cleaning car, all my troubles would have washed away.

  • Popular hot yoga myths debunked 20 hours ago
    Popular hot yoga myths debunked

    What’s the hottest new workout taking the world by storm? That would be hot yoga, also known as Bikram yoga. Conducted in a heated room with sweltering temperatures of about 40°C (or approximately 104° Fahrenheit) and 40 per cent humidity, … Continue reading →

  • Photo of a very thin Lee Kuan Yew sparks concern
    Photo of a very thin Lee Kuan Yew sparks concern

    A new picture of Singapore's first prime minister, Lee Kuan Yew, who is now 90 years old, has drawn concern from people on Singapore's internet space.

  • Waste oil collector struggles after STOMP posts, receives help from kind souls
    Waste oil collector struggles after STOMP posts, receives help from kind souls

    After being photographed at work in Jurong pooling used oil near coffee shops, 50-year-old Valerie Sim has been struggling to keep her family afloat. Web portals STOMP and The Real Singapore published pictures of her in February, triggering a witch hunt for others like her and comments from readers like “Who knows if they’ll use it as cooking oil?” Some readers also said they filed police reports against her and other people they believed were doing the same thing she was.

  • I tendered my resignation without securing the next job. Here’s why I don’t mind.
    I tendered my resignation without securing the next job. Here’s why I don’t mind.

    I have committed a taboo – I have tendered my resignation without securing the next job. The reactions to the announcement were varied but they all pretty much hint at a deep sense of disapproval. “Why did you do that?” It was as if I had renounced my faith. “What are you going to do from now on?” Almost as though a misfortune had incapacitated me. “What does your family have to say about it?” As if I had offered to cook for the next family dinner. I was, and still am, certain of my reasons and motivations for the resignation. However the response I received got me thinking about why people are so concerned about the gaps in their careers. The developed world evolved from an agricultural economy to an industrial economy to the service age, then to the knowledge economy in the late 1990s and 2000s marked by breakthroughs in technological innovations and competition for innovation with new products and processes that develop from the research community. According to The Work Foundation, the knowledge economy is driven by the demand for higher value added goods and services created by more sophisticated, more discerning, and better educated consumers and ... The post I tendered my resignation without securing the next job. Here’s why I don’t mind. appeared first on Vulcan Post.