Gemstar-TV Guide got a Q3 boost from its online business in the third quarter but sales and profit fell overall. Net income was $17.5 million, or 4 cents per share, compared with $51 million, or 12 cents per share, a year earlier. Sales fell 2 percent to $148.9 million, the company reported.
The online version of TV Guide showed strong gains in the quarter following a redesign. Unique visitors rose 29 percent to 3.1 million, drawn by the site’s expanded broadband video, enhanced and increased functionality, the company said. One claim: TV Guide Online was the most heavily trafficked TV information Web site when measured by page views per unique users for the second quarter in a row.
CEO Rich Battista from the release: “We continue to make strides throughout our businesses as we seek to firmly position ourselves as the leading cross-platform provider of television and entertainment guidance. To that end, the third quarter saw some important developments – we re-designed TVGuide.com and focused the site more expressly on broadband and multimedia, we entered into strategic agreements with both Yahoo! and TiVo, and we extended our relationship with Panasonic in Japan. … Moving forward, we will remain focused on cross-platform initiatives – in advertising, content creation and product development.”
— TV Guide Online revenues are up 25 percent for the year — to $7.2 million from $5.8 million last year at the end of the first nine months. But Q3 revenue dipped about 5 percent to $2.1 million from $2.3 million the previous year. Overall, revenue from the publishing segment dropped 28 percent in the third quarter and is down nearly 40 percent for the year.
Earnings Release | Conference Call
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post