UPDATE: Bankrate Posts Downbeat Q4 Profit, Issues Weak 2013 Revenue View
Bankrate (NYSE: RATE) reported a weaker-than-expected Q4 profit and issued downbeat 2013 revenue forecast.
Bankrate's quarterly net income declined to $300,000, or break-even profit, versus $14 million, or $0.14 per share, in the year-ago period. Excluding items, it earned $0.06 per share.
Its revenue dropped 18% to $93.2 million. However, analysts were expecting earnings of $0.11 per share on revenue of $106.3 million.
Bankrate shares dipped 18.50% to $10.09 in after-hours trading.
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