The Knot Shares Up 7% On 1 Cent Earnings Beat (KNOT)
November 04, 2010 7:48 PM
The Knot, Inc. (Nasdaq: KNOT) late on Thursday released financial results that beat Wall Street earnings expectations.
The Knot, Inc reported 3rd quarter net income of 3 cents per share, on revenue of $27.28 million.
A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 2 cents per share, on revenue of $28.39 million.
Chief executive officer David Liu said, “Strong demand for online and print media across all our brands created great momentum in the third quarter, and we are particularly encouraged as we anticipate year over year growth trends in our most profitable businesses—online national and local advertising—to accelerate into the fourth quarter. In the past few months we have introduced a range of exciting new programs and partnerships that we expect to catalyze growth in virtually all our businesses in 2011.”
The Knot, Inc. (KNOT) ended the Thursday trading session at $9.50 per share, then climbed 7.4% to $10.20 during after hours trading. Analysts covering the company's stock have a consensus price target of $9.59 per share.
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