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Monster Worldwide revenue increases 7 percent

Monster Worldwide reported revenues of $229 Million, a 7 percent increase from last year, according to a press release posted yesterday.

Included in the financial report were numbers from the acquisition of Yahoo! HotJobs, completed on August 24, 2010. The company’s third quarter financial results were supplemented with five weeks of HotJobs’ results.

According to the report,bookings increased 26% to $235 million. Excluding HotJobs, bookings were $229 million, a 23% increase from $186 million reported in the third quarter of 2009.

GAAP revenue of $229 million includes a $1.8 million purchase accounting adjustment related to the HotJobs acquisition. Non-GAAP revenue of $231 million, of which $7.7 million is attributed to HotJobs, increased from revenue of $215 in the third quarter of 2009.

Total Careers revenue on a non-GAAP basis was $196 million. Excluding HotJobs revenue of $7.7 million, total non-GAAP Careers revenue was $188 million, an increase of 4% compared to the third quarter of 2009.

Careers-International revenue increased 2% to $87 million compared with $85 million in the prior year period. Internet advertising and fees revenue of $35 million was flat compared to the third quarter of 2009.

Consolidated GAAP operating expenses were $234 million, including $5.9 million of HotJobs expenses. The net loss was $5.7 million, or $0.05 per share. This compares to net income of $33 million, or $0.27 per share, in the third quarter of 2009, which included a favorable tax adjustment of $31 million, or $0.26 per share.

Sal Iannuzzi, chairman, president and chief executive officer of Monster Worldwide, said, “Our third quarter results affirm that our strategy is working. We continue to gain momentum across all geographies and major vertical markets — resulting in year over year bookings growth of 26%, or 23% excluding HotJobs, and a sequential improvement in deferred revenue. Our business is growing in large part due to our unrivaled global reach, our portfolio of innovative solutions, and our search products powered by our patented 6Sense(R) technology.”

1 comment…
  • Joblist Ghana November 1, 2010, 10:15 am

    $229 is not a bad figure for monster, it shows that employment and HR industry is still doing well

    Reply

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