Buyback Bet on Bankrate
04/04/2017 2:50 am EST
Bankrate offers award-winning editorial content, competitive rate information and calculators and tools across multiple categories, including mortgages, deposits, credit cards, retirement, automobile loans, and taxes.
Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states.
Bankrate develops and provides web services to more than 100 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the internet, such as Comcast, Yahoo!, CNBC and Bloomberg.
In addition, Bankrate licenses editorial content to more than 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times and The Los Angeles Times.
The company’s flagship websites Bankrate.com, CreditCards.com and Caring.com are content destinations for those seeking financial service and senior care providers.
In the third quarter, Bankrate reported stronger-than-expected results for the 2016 third quarter and hiked its revenue guidance for 2016. RATE reported adjusted earnings of 22 cents per share, beating Wall Street's projections of 13 cents per share.
Revenue grew 29% year-over-year at $128.8 million, which exceeded analysts' estimates of $114.1 million. For 2016, New York City-based Bankrate expected revenue in the range of $438-$443 million vs. its prior estimate of $419-$430.
The company also backed its fourth-quarter revenue guidance of $117-$122 million vs. consensus of $118.4 million. RATE has repurchased about 9.30% of its shares in the past 12 months.