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.
