Bankrate Reports Q1 EPS In Line; Boosts FY14 Revenue Outlook

(RTTNews) - Bankrate, Inc. (RATE) reported net income for the first quarter of $4.8 million or $0.05 per share, compared to $2.2 million or $0.02 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $17.4 million or $0.17 per share, compared to $12.2 million or $0.12 per share in the prior year quarter.

Total revenue for the first quarter rose 26% to $136.5 million from $108.4 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.17 per share on revenue of $127.42 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts second quarter revenues of $130 million to $135 million.

The company raised its full year 2014 revenue guidance to a range of $540 to $550 million from its previous guidance of $520 to $530 million.

Analysts currently expect the company to post revenue of $124.98 million for the second quarter and $525.69 million for the full year 2014.

Separately, Bankrate announced the acquisition of Caring, Inc., a privately held, San Mateo California-based company and the owner of Caring.com, a senior care resource for those seeking information and support as they care for aging family members and loved ones.