New subscriptions and rebounding ad revenue lifted financial results for TheStreet.com’s established operations. But the company still posted a small loss last quarter as those gains were offset by continued investment in Independent Research Group LLC, the company’s securities research and brokerage segment.
Net revenues for Q2 were $9.1 million, up 43% from the year-earlier quarter. That strength reflected record-high subscription revenue in the company’s Electronic Publishing Segment, which rose 31% to $5.7 million. Advertising revenue was also strong, up 30% from the year-ago quarter to $1.9 million. For the segment, net income was $1.3 million in the second quarter.
For the IRG segment, the second-quarter net loss was $1.4 million. Net revenue in the segment was $1.2 million, up 56% from the first quarter.
The company also has a net loss of $100,000, significantly smaller than the year-earlier loss of $1.3 million, and this year’s first-quarter loss of $1.6 million.
TheStreet.com counts 76,200 subscribers, up 21% from a year earlier and up 2% from the first quarter. Average annual revenue per subscriber was $302, an increase of 9% from the quarter a year ago.