The addition of more video content boosted ad revenue for financial news site TheStreet.com (Nasdaq: TSCM), which posted strong performance numbers for 4Q06 and the year as a whole. The Street.com’s net income in 4Q came in at $4 million, a 125 percent increase over $1.8 million for t4Q05. Revenue for the quarter was $14.4 million, a 44 percent gain from the $10 million from 4Q05. Earnings per share were 14 cents, compared to 7 cents for the year-ago period.
In a statement, Thomas Clarke, Jr., chairman and CEO of TheStreet.com, cited “solid progress within our strategy of increasing the company’s advertising-based revenue by delivering more content initiatives such as TheStreet.com TV and TheStreet.com Ratings on our free site.” Other highlights from the company’s Thursday morning statement included:
-- 4Q ad revenue reached $4.8 million, a 49 percent increase over the $3.2 million recorded in 4Q05.
-- Viewership of TheStreet.com TV grew throughout 2006, increasing to 8 million video views and contributing more than 7 percent of total advertising revenue in 4Q.
-- The quarter’s subscription revenue was $8.8 million, a 36 percent increase over the $6.5 million for the same period last year.
-- For the full year, net revenue grew by 51 percent
-- The Company served 880 million page views in 2006, an increase of 80 percent from 2005.
-- Average monthly unique visitors grew to 4.4 million for the year, a 46 percent increase from last year. Earnings release | Webcast (11:00 a.m. EST )