Salon Media Group Inc. Reports Unaudited Earnings Results for the First Quarter Ended June 30, 2017
August 12, 2017 at 02:14 am IST
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Salon Media Group Inc. reported unaudited earnings results for the first quarter ended June 30, 2017. For the quarter, the company reported revenue from continuing operations for the period was $1.5 million, an increase of 13% from $1.3 million for the three months ended June 30, 2016. The increase in revenue was a result of a continued significant industry shift in online advertising to advertising increasingly being sold through software-based “programmatic” technology. Net loss attributable to common stockholders decreased to $0.6 million during the quarter ended June 30, 2017, compared to $0.85 million in the quarter ended June 30, 2016. The decreased losses resulted from an increase in revenues and a corresponding decrease in operating expense to $1.7 million, compared to $2.1 million in the same period last year. Loss from operations was $283,000 compared to $838,000 a year ago. Basic and diluted loss per share was $0.00 against $0.01 a year ago.
Salon Media Group, Inc. is an independent publication company. The Company covers news and politics, alongside its coverage of culture and entertainment, science and health, and food. The Company has driven the national conversation through journalism distributed across Salon.com, Salon TV, social media, news platforms, email newsletters and mobile applications. Its content, including its flagship show, Salon Talks, and other Salon TV programming, reaches an audience of approximately 10 million monthly new visitors. The Companyâs publication is free. It also offers monthly subscription for ad-free publication. The Company covers national news and politics, and science and health through investigations, insightful reporting, commentary and analysis. It covers television (TV), movies, books, entertainment and culture news through insightful reporting, criticism, commentary and analysis. Its Life Stories section features insightful commentary and essays about the human experience.