Monster Worldwide (MWW) Posts Q2 Loss; Up On Takeover
Zacks Investment Research | Aug 10, 2016 08:49AM ET
Monster Worldwide Inc. (NYSE:MWW) reported second-quarter 2016 adjusted loss (including stock-based compensation but excluding one-time items) of 4 cents per share as against the Zacks Consensus Estimate of breakeven.
Revenues of $150.9 million not only missed the Zacks Consensus Estimate of $156.8 million but also declined 16.4% year over year.
Nonetheless, the company’s shares shot up over 26% in yesterday’s trading session in response to the news of its takeover by Randstad for $429 million.
Quarter Details
Revenues from Careers – North America were $103.7 million while that from the Careers – International segment were $47.2 million.
The company reported operating expenses of $301.5 million, an increase of over 83% year over year.
The company reported adjusted EBITDA from continuing operations of $9.2 million compared with $25.7 million reported in the year-ago quarter. Cash EBITDA (i.e., operating income excluding depreciation, amortization, non-cash impairment and stock-based compensation) was $6.98 million, down from $17.76 million reported in the prior year quarter.
Acquisition Details
Along with the earnings release, Monster Worldwide Zacks Investment Research
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