Bankrate Reports Record 3rd Quarter As Earnings Surge On A 73% Revenue Increase; Nine-Month Revenue Exceeds All of 2001, Reflecting a Robust Core Business.
Business Wire › November 06, 2002
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Bankrate Reports Record 3rd Quarter As Earnings Surge On A 73% Revenue Increase; Nine-Month Revenue Exceeds All of 2001, Reflecting a Robust Core Business.
Business Editors
NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Nov. 6, 2002 Bankrate, Inc. (OTCBB:RATE), the Internet's leading consumer banking marketplace, today reported a sharp net income increase to a record $1,628,000, or $0.11 per share on a diluted basis, for the third quarter ended September 30, 2002, from a loss of $379,000, or $0.03 per share, in the third quarter a year earlier. These results reflect Bankrate's fourth consecutive profitable quarter as a result of strong advertiser demand and traffic patterns. Total revenue for the third quarter rose 73% to $7,243,000 from $4,189,000 in the third quarter of 2001. The Company reported net income of $5,341,000, or $0.38 per share on a dilut...See the full content of this document
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