LONDON (Brand Republic) - Online financial news website Marketwatch.com has beaten forecasts with its first-quarter losses of $5.8m (£4.03m) or 35 cents a share, but has warned that full-year revenues will fall 5% because of a decline in online advertising.
The company, in which the Financial Times owner Pearson has a 35% stake, had been expected to lose 40 cents a share. Revenue was $11.8m (£8.2m), down 5% from the same period a year earlier.
Chairman and chief executive Larry Kramer said that the advertising market would be slow for some time. After an increase in the second quarter, the third quarter will be less positive and the fourth quarter will see an upturn, he said.
In the UK, Pearson launched its own version of the financial news site, FTmarketwatch.com
www.marketwatch.com
www.FTmarketwatch.com
Marketwatch warns of advertising decline
Online financial news website Marketwatch.com has beaten forecasts with its first-quarter losses of $5.8m (£4.03m) or 35 cents a share, but has warned that full-year revenues will fall 5% because of a decline in online advertising.