Jim Cramer’s TheStreet.com: Things Were Bad Last Quarter, and They’re Getting Worse
Fri, Feb 20th, 2009
No surprise that Jim Cramer’s TheStreet.com (TSCM) had a crummy fourth quarter: Selling ads or subscriptions for a financial Website was a tough proposition in the last three months of 2008. But maybe things will get better later on this year, right?
Nope. Advertising was down 21% at TheStreet during its last quarter, and the company expects things to get worse. "Early indications suggest that the year-over-year decline in advertising revenue that we saw in the fourth quarter will increase in the first half of the year," chief financial officer Eric Ashman predicted in the company’s earnings release.
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