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Monster Worldwide Inc. (NYSE: MWW) sunk to a second-quarter loss as the online help-wanted service's revenue plunged 37 percent against a backdrop of rising unemployment.
The company said Thursday that it lost $1.4 million, or a penny per share, in the three months ended in June. That was a dramatic about face from the same time last year when Monster Worldwide made $30.8 million, or 25 cents, per share.
Monster said it would have made 3 cents per share in the quarter, if not for charges unrelated to its ongoing business. On that basis, the company beat the average earnings estimate of a penny per share among analysts surveyed by Thomson Reuters.
Revenue for the period totaled $223 million, down from $354 million last year. The decline reflected the waning need for employers to advertise for new workers during the worst
Analysts had been braced for the dramatic downturn. They had projected revenue of $225 million.
Monster's shares were unchanged in extended trading at $13.74 after finishing Thursday's regular session with a gain of 23 cents, or 1.7 percent.
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