Bankrate Inc. (RATE: Quote) Tuesday posted a profit for the second quarter, compared to a loss posted in the same quarter last year. The North Palm Beach, Florida-based company's second-quarter net income was $16.3 million or $0.16 per share, compared to a net loss of $39.7 million or $0.44 per share last year.
Adjusted net income for the quarter rose to $18.18 million or $0.18 per share from $12.34 million or $0.12 per share in the year-ago period. On average, ten analysts polled by Thomson Reuters expected earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 24 percent to $122.13 million from $98.45 million in the comparable quarter last year, while eight analysts had a consensus revenue estimate of $123.64 million for the quarter.
Chief Executive Thomas Evans said, "We are guiding towards overall revenue growth in the low to mid- 20% range and EBITDA margins in the low 30% range.
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by RTT Staff Writer
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