comScore Cuts Eight Percent Of Workforce

comScore

comScore (NSDQ: SCOR), which just announced it would acquire Latin American online researcher Certifica, is also cutting eight percent of its workforce, or about 50 employees. In the company’s earnings announcement, CEO Magid Abraham said that comScore was shifting resources to support the growth of its Media Metrix 360 service, along with new services. The company said it would make “selective new hires” in other areas.

For the quarter, comScore posted a 4 percent increase in revenue, as well as a jump in profits — but the measurement firm’s results fell short of analysts’ expectations. The company said it continued to be impacted by the weak advertising market and was seeing “higher than normal” attrition among its smaller customers. It also cut its revenue guidance for the remainder of the year. However, comScore said it had seen “positive” momentum late in the third quarter.

3Q 2008 3Q 2009 Estimate
EPS $0.02 $0.03 $0.05
Net Income $600,000 $900,000
Revenue $30.66M $31.9M $32.96M

Release (pdf) | Webcast

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