NEW YORK (AP) - Health care website operator WebMD Health Corp. posted a first-quarter net loss Tuesday, reversing a year-ago profit as costs grew, but revenue increased thanks to higher ad spending.
The company posted a net loss of $3.8 million, or 7 cents per share, down from a profit of $415,000, or 1 cent per share, in the same period a year earlier.
Excluding items, such as the disposition of its auction rate securities investment, the company would have earned $5.1 million in the latest quarter.
Revenue rose 20 percent to $108 million from $90.3 million.
Analysts, on average, were expecting a profit of 7 cents per share on revenue of $105.3 million, according to a poll by Thomson Reuters. Analysts typically exclude one-time items from their estimates.
For the full year, WebMD reiterated that it is expecting revenue of $510 million to $525 million. Analysts are expecting $519.6 million.
Shares fell $1.59, or 3.4 percent, to $45.71 in after-hours trading. The stock had closed down 84 cents to end the regular session at $47.30.
Excluding items, such as the disposition of its auction rate securities investment, the company would have earned $5.1 million in the latest quarter.
Revenue rose 20 percent to $108 million from $90.3 million.
Analysts, on average, were expecting a profit of 7 cents per share on revenue of $105.3 million, according to a poll by Thomson Reuters. Analysts typically exclude one-time items from their estimates.
For the full year, WebMD reiterated that it is expecting revenue of $510 million to $525 million. Analysts are expecting $519.6 million.
Shares fell $1.59, or 3.4 percent, to $45.71 in after-hours trading. The stock had closed down 84 cents to end the regular session at $47.30.
