(RTTNews) - Bankrate, Inc.
(RATE), a provider of internet-based consumer banking and personal finance, on Thursday announced first-quarter financial results, reporting a rise in profit on higher revenues.
The North Palm Beach, Florida-based company's net income for the first quarter increased to $6.83 million or $0.35 per share from $5.37 million or $0.28 per share in the prior year.
Adjusted earnings per share increased 39% to $0.46 from $0.33 a year ago. Analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.45 per share for the quarter.
Total revenues for the quarter rose 91% to $42.46 million from $22.23 million in the earlier year. Street analysts anticipated revenues of $38.87 million for the period. Income from operations was $10.86 million, compared to $7.69 million a year ago.
Looking ahead, the company still expects full-year revenues in the range of $167 million - $172 million. Analysts expect revenues of $169.11 million for the year.
RATE closed Thursday's regular trading at $53.06, up $0.82 or 1.57%, on a volume of 551 thousand shares. In after hours, the stock lost $0.07 or 0.14% and traded at $52.99.
For comments and feedback: contact editorial@rttnews.com