Monster (MNST), the big online jobs firm, had a 20% increase in revenue in Q2 to $331 million. Net income fell due to costs of a stock options investigation and severance costs.
The company also said it plans to cut 800 people. 15% of its staff.
Monster’s forecast was mixed: The total revenue outlook for the balance of 2007 assumes that the rate of revenue growth in the third quarter will continue at approximately the same rate as in the second quarter, offset by planned reductions in certain interstitial ads and the elimination of "work-at-home" job postings, with a higher revenue growth rate in the fourth quarter.
While Wall St. might not be excited about the company’s near-term issues, Monster is still growing at an impressive rate. And, that business is coming from newspapers. And, that means that, over time, investors dollars will come Monster’s way.
Douglas A. McIntyre
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