Ad Revenues Drop 47%

Terrible quarter for The company said Q1 sales dropped 26% year-over-year to $14 million, missing analysts’ $15.4 million expectations.

Ad revenue was hit especially hard, down 47% year-over-year to $3.2 million in the first quarter. Subscription revenue was down 16% to $6.8 million.

Overall, TheStreet lost $3.1 million during the quarter, obviously worse than the $2.4 million Q1 profit it made a year ago.

In March, the company let go of long time CEO Thomas Clarke.

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