Earlier this year TheStreet.com and Jim Cramer spent a few puzzling months dickering over his contract: It seemed inconceivable that the man who’s synonymous with his company would actually leave, but it took an unnaturally long time to get the deal done, anyway. Not this time around: The company has locked up Cramer through 2010, adding another year on a previously-signed employment deal, which expireds in January 2009. All other terms of his previous employment deal remain unchanged.
TheStreet (TSCM) also turned in respectable Q3 numbers. Revenue came in at $19.7 million, up 32% y/y, driven by a $3 million contribution from the newly-acquired Promotions.com. Net income dropped 36% to $2.3 million from $3.6 million a year ago, but EPS was in-line with expectations at $0.07 a share.
Ad sales grew 16% to $6.4 million in the quarter, which is a slight slowdown from the 18% ad growth in Q1. Advertising, however, is becoming a smaller part of the revenue mix. Marketing services revenue grew 71% to $9.4 million, from $5.5 million a year ago.
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