Demand Media reports record revenue and profit
Thirty-seven percent of third quarter revenue was from Google, Demand CFO Mel Tang said on a conference call with analysts and investors.
Demand has roughly 20 partnerships where its content is published, including Gannett Co Inc's Arizona Republic.
Rosenblatt said on the call that Livestrong's traffic or metrics have not been materially impacted by Lance Armstrong. Armstrong, who founded the cancer charity, stepped down as its chairman over a doping scandal.
Our relationship is with the Livestrong Foundation, not Lance, Rosenblatt said.
The company raised its full-year forecast for revenue excluding traffic acquisition costs to between $359.8 million and $361.8 million from $355.5 million to $359.5 million.
For the year, adjusted EPS is expected to be in the range of 37 cents to 38 cents per share versus the previous forecast of 35 cents to 37 cents per share.
Net income for the third quarter was $3.2 million, or 4 cents per share compared with a loss of $4.1 million, or a loss of 5 cents per share, in the same period a year ago.
Adjusted for stock-based compensation and other items, the company reported earnings per share of 11 cents, beating analysts' forecast by a penny. Demand shares closed up 6 percent at $8.74 on Monday.
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