Tuesday, February 22, 2011
Demand Media Reports Profit
Santa Monica-based Demand Media, the internet publishing firm headed by Richard Rosenblatt, reported its fourth quarter and fiscal 2010 results today, the first as a public company. Demand Media said it had revenues of $73.6M for Q4 of 2010, up 33 percent from the $55.5M in revenues from Q4 of 2009. The firm also reported net income of $1.0M, versus $3.9M in a loss in Q4 of 2009. The firm said the fourth quarter revenues were driven by new brand advertisers, and growth to more than 100 million unique monthly visitors. The firm reported net loss of $5.3M on revenues of $252.9M for all of 2010. Demand Media hit the NYSE as DMD on January 26th, in what had been one of the biggest anticipated IPOs this year.