TheStreet.com warns of revenue shortfall

Summary:TheStreet.com said late Tuesday it will report disappointing sales in its third quarter but it still expects to meet analysts' loss estimates in the quarter.

TheStreet.com said late Tuesday it will report disappointing sales in its third quarter but it still expects to meet analysts' loss estimates in the quarter.

TheStreet.com shares closed up 9 cents to $6.13 ahead of the warning.

Company officials said the online financial news site will still become cash flow positive by the second half of 2001 and that it still holds more than $88 million in cash reserves.

"Unfortunately, our projections didn't account for the slower-than-anticipated implementation of our news distribution deals, and the impact of seasonality on advertising sales," CEO Tom Clarke said in a prepared release. Full story. -- Larry Barrett, ZDNet Inter@ctive Investor

Topics: Tech Industry

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.