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Earnings: JupiterMedia Q3 Revenues up 3 Percent; Slips to Losses on Higher Costs

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Online media and stock photo firm JupiterMedia has announced Q3 revenue of $34.8 million, up 3 percent from last year’s $33.8 million. The company lost $534,000 ($.01 per share) in the quarter, compared to a profit of $1 million ($.03 per share) a year ago. Higher operating expenses and higher interest payments weighed down earnings. Growth was anemic in both of its main categories, as Online Images grew by 2.3 percent to $26.8 million in revenue, while Online Media grew by 4 percent to $7.9 million. Brights spots for the company came from its Rights Managed photo category, as well as its new royalty-free subscription based offering. Going forward, the company intends to focus more on these areas. In the release, CEO Alan Meckler stated that the company has $2-$3 million in potential annual cost reductions going forward. There was no new information about the performance of MediaBistro, which the company acquired in July.

Release | Conference Call (11:00 AM est)