Monster Worldwide (MNST) reported Q4 results, beating Wall Street’s revenue expectations — mostly because of overseas growth — but missing on EPS.
The company reported $354 million in sales, up 19% year-over-year, beating the Street consensus of $352.7 million, and 36 cents EPS, missing the Street’s 38 cents projection. (Excluding costs from restructuring (execs are out and the company slashed its sales team last week), its stock option investigation, and the company’s database security breach in August, the company would have reported 41 cents EPS.) After dropping 2.7% on Thursday, shares are spiking up and down after hours between a 2.6% loss and a 5.9% gain.
Good news: International revenue grew 59% to $143 million. Bad news: North American revenue grew just 3% to $174 million. And Internet advertising and fees fell 7.5% y/y to $37 million. Worse news: The softening U.S. economy could ding Monster even more this year.
Call notes: Monster not just a job posting site anymore, but a “life improvement” engine! Looking for more revenue from people even when they’re not looking for jobs.Soft U.S. economy dinged Q4 North America growth. No 2008 guidance, but shooting for 25% operating margins, but will vary based on different quarters’ investments. Will pay $220 million to $225 million for the remaining 55% of China HR. The best is yet to come! “Whether you believe it’s a recession or a slowdown, when we come out of this, Monster will be stronger than ever before.”
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