Monster.com, the online job site that’s in perpetual turnaround, halted trading late today. Why? It needed to put out a note announcing that Q1 operating expenses “appear to exceed the current analysts’ consensus expense levels”.
By how much? We don’t know. But the range that Monster (MNST) offered — $327 million to $333 million — is roughly equal to the company’s last two quarters’ expenses combined. And it would account for about 90% of this quarter’s $364.5 million revenue consensus. Anyway, Monster said, it’s totally normal, and has to do with a big branding campaign and some comp expenses and it’s going to shrink going forward. So don’t worry!
Investors are a bit sceptical. They’ve pushed the stock down 6% in after hours trading.