Monster Revenue Drops Again in Q1
April 30, 2010 by Alice Allan
Monster Worldwide is reporting another loss for the first quarter of this year – the sixth drop in revenue in a row.
But Monster’s CEO, Sal Iannuzzi, said the company’s “underlying fundamentals have turned the corner,” adding that bookings growth was better than anticipated.
Monster’s total revenue was down 16 percent to US$215 million compared with $255 million in the first quarter of 2009. The company generated 42 percent of its revenue outside the US.
Monster’s deferred revenue balance at 31 March was $305 million, which is almost on par with the $306 million reported for the fourth quarter of 2009, but down 12 percent from last year’s first quarter.
This quarter saw Monster buy Yahoo! HotJobs for US$225 million. The company is expecting another drop in revenue of between 2 and 6 percent for the second quarter of this year.
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