WebMD Health Corp. WBMD,
the leading source of health information, today announced that it expects
first quarter results to exceed its previously provided financial guidance.
WebMD also updated its full year 2014 guidance. WebMD's financial guidance was
previously provided on February 20, 2014.
For the first quarter of 2014, WebMD expects:
o Revenue to be at the high end of the range previously provided;
o Earnings before interest, taxes, non-cash and other items ("Adjusted
EBITDA") and net income to be slightly above the high end of the range.
For the full year 2014, WebMD expects to be in the top half of the ranges
previously provided for revenue, Adjusted EBITDA and net income.
"The update to our guidance that we are providing today reflects recent
improvements in our sales activity compared to our experience in the early
weeks of 2014," said David Schlanger, Chief Executive Officer of WebMD. "We
are having very positive dialogue with our customers about how WebMD can help
address their evolving business needs and we are continuing our investments in
new product and service offerings to better serve those needs and realize
future growth opportunities."
Traffic Update
During the first quarter, traffic to the WebMD Health Network reached an
average of 174 million unique users per month generating 3.5 billion page
views for the quarter, increases of 32% and 26%, respectively, from the prior
year.
Repurchase Program
As of the close of business on April 11, 2014, the amount available under
WebMD's existing stock repurchase program was $18 million. Under the
repurchase program, WebMD may repurchase shares from time to time in the open
market, through block trades or in private transactions, depending on market
conditions and other factors.
As of the close of business on April 11, 2014, WebMD had approximately 38.8
million shares of its Common Stock outstanding (including approximately 1.0
million shares of unvested restricted stock).
Final Results to Be Released on April 30, 2014
The information in this release is preliminary. WebMD is completing its normal
closing process and, as previously announced, will release its first quarter
results on April 30, 2014, at approximately 4:00 p.m. (Eastern time) and will
hold a conference call with investors and analysts to discuss its first
quarter results and provide additional commentary at 4:45 p.m. (Eastern time)
on that day. The call can be accessed at www.wbmd.com (in the Investor
Relations section). A replay of the audio webcast will be available at the
same web address.
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