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May 6, 2011 12:34 am GMT
Content platform Demand Media reported its first quarter 2011 results today, reporting revenue of $79.5 million, an increase of 48% compared to $53.6 million in Q1 2010, beating analyst expectations of $69.49 million in Q1 revenue. The company reported a net loss of $5.6 million compared to a net loss of $4.1 million in Q1 2010. Net loss per share was $0.13 compared to $0.94 in Q110. In a statement, CEO Richard Rosenblatt said: "We reported better-than-expected results in Q1 2011, driven primarily by continued momentum from our owned and operated sites...We also continued to invest in Demand Media's long-term success, enhancing our consumer offerings through new partnerships with Rachael Ray, Tyra Banks and Getty Images. We believe our publishing platform is the most comprehensive and effective of any online publisher and our focus on delivering relevant, valuable content that makes consumers' lives better will continue to drive our success."
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/FEh6XjgVrX4/
Demand Media's Q1 Revenue Beats The Street; Up 48 Percent To $79.5 Million
Content platform Demand Media reported its first quarter 2011 results today, reporting revenue of $79.5 million, an increase of 48% compared to $53.6 million in Q1 2010, beating analyst expectations of $69.49 million in Q1 revenue. The company reported a net loss of $5.6 million compared to a net loss of $4.1 million in Q1 2010. Net loss per share was $0.13 compared to $0.94 in Q110. In a statement, CEO Richard Rosenblatt said: "We reported better-than-expected results in Q1 2011, driven primarily by continued momentum from our owned and operated sites...We also continued to invest in Demand Media's long-term success, enhancing our consumer offerings through new partnerships with Rachael Ray, Tyra Banks and Getty Images. We believe our publishing platform is the most comprehensive and effective of any online publisher and our focus on delivering relevant, valuable content that makes consumers' lives better will continue to drive our success."Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/FEh6XjgVrX4/
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