UPDATE 1-Bankrate Q4 earnings trail Wall Street's view

Tue Feb 5, 2008 11:17pm GMT
 
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Feb 5 (Reuters) - Operator of Internet-based consumer banking marketplace Bankrate Inc's (RATE.O: Quote, Profile, Research) quarterly profit lagged Wall Street's view, as display advertisers cancelled bookings in December due to turmoil in the mortgage and financial sectors, sending its shares down almost 9 percent in after-hours trade.

Excluding stock-option expenses, the company earned 33 cents a share in the fourth quarter. Revenue increased 22 percent to $25.2 million.

Analysts on average were expecting earnings of 39 cents a share, excluding items, on revenue of $26.8 million for the quarter, according to Reuters Estimates.

However, the company raised its revenue view for 2008 to a range of $167 million to $172 million from its prior view of $140 million to $145 million, partly based on two acquisitions it completed on Tuesday. Analysts on average expect revenue of $142.4 million for the year.

Shares of the company were trading at $49 in extended-hours trade, after closing at $53.68 Tuesday on Nasdaq. (Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by Pratish Narayanan)

 
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