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Tuesday, Mar 28, 2023

Demand Media’s Fourth-Quarter Earnings Meet Expectations

Web content publisher Demand Media on Tuesdays reported fourth quarter earnings that were in line with analysts’ expectations.

The Santa Monica company reported adjusted fourth quarter net income of $2.9 million (3 cents a share), down from $10.8 million (12 cents) in the same period a year earlier. Revenue fell for the Web content company fell 6 percent to $96.7 million. Income was in line with analysts’ expectations, while revenue was slightly higher than projected.

“The fourth quarter was highlighted by solid performance from Society6, Content Solutions and our registrar business, offset by continued declines in the Company’s core eHow business,” interim Chief Executive Shawn Colo said in a statement.

Shares on Tuesday closed down 5 cents, less than 1 percent, to $5.55 on the New York Stock Exchange.

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