Broadcast.com Inc, the internet streaming media company set to be acquired by Yahoo! Inc, posted second-quarter numbers that easily beat Wall Street estimates as revenue more than doubled. The Dallas-based company reported a net loss for the quarter of $1.9m, or $0.05 per share, when analysts surveyed by First Call were expecting a loss of $0.09. The bottom line showed a significant improvement from the year-ago quarter’s loss of $3.5m, or $0.11. Revenue soared 130% year-over-year and 31% sequentially to $13.5m.
Revenue from the increasingly important business services jumped 138% year-over-year and 34% from the prior quarter to $9.5m and represented 71% of the total. Advertising revenue, meanwhile, rose 114% – and 25% sequentially – to $4.0m. The company says it delivered 960 business-to-business events during the quarter, a 45% increase over the first quarter and more than double the number of events from the year-ago period.
For the six-month period, net loss was $5.8m on revenue up 129% at $23.8m, down from a loss of $6.1m last year. The merger with Yahoo is expected to close on July 20 after a special meeting of the company’s shareholders.
