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.

  • COMMENT: Xenophobia rears its ugly head in Singapore once more Sat, Apr 19, 2014
    COMMENT: Xenophobia rears its ugly head in Singapore once more

    Kirsten Han is a Singaporean blogger, journalist and filmmaker. She is also involved in the We Believe in Second Chances campaign for the abolishment of the death penalty. A social media junkie, she tweets at @kixes. The views expressed are … Continue reading →

  • Driving a $900,000 Porsche 918 Spyder to the future Sat, Apr 19, 2014
    Driving a $900,000 Porsche 918 Spyder to the future

    It’s more than just its inherent speed, or the whooshing noise that fills the cabin like a school choir jamming with James Hetfield. It’s what it represents in an industry full of skeptics. It’s a portal into the future – a time capsule left by some mad scientist born decades too soon. It’s something that shouldn’t exist. And yet it does.

  • COMMENT: Xenophobia rears its ugly head in Singapore once more
    COMMENT: Xenophobia rears its ugly head in Singapore once more

    Kirsten Han is a Singaporean blogger, journalist and filmmaker. She is also involved in the We Believe in Second Chances campaign for the abolishment of the death penalty. A social media junkie, she tweets at @kixes. The views expressed are … Continue reading →

  • 5 Unanswered Questions About Jesus
    5 Unanswered Questions About Jesus

    As Christians worldwide gather for Easter to celebrate their belief in the death and rebirth of Jesus, researchers continue to delve into the mysteries that surround the man. The following are five questions about Jesus that, for now, at least, remain unanswered. In 2008, astronomer Dave Reneke argued that the Star of Bethlehem (a celestial event long associated with Jesus' birth) may have been Venus and Jupiter coming together to form a bright light in the sky. Other researchers have claimed that a similar conjunction between Saturn and Jupiter occurred in October of 7 B.C. Still others have claimed that Jesus was born in the spring, based on stories about shepherds watching over their flocks in fields on the night of Jesus' birth — something they would have done in the spring, not the winter.