Rediff F1Q07 earnings report
Rediff released their first quarter 2007 (quarter ending june 30, 2007) earnings report yesterday. Highlights of the earnings:
- Revenues totaled $6.8 million, 18% increase over quarter ending June 30 2006
- India Online revenues, which includes online advertising, totaled $4.62 million, a 14% increase as compared to same quarter last year
- Net income was $2.12 million as compared to a new income of $1.98 million for same quarter last year
When it comes to their online advertising revenues, below are some specific highlights:
- Number of advertisers totaled 172
- Employment, matrimonial, finance, travel and IT products contributed 53% of the advertising revenue
- Top 10 advertisers contributed 42% of the total advertising revenue.
However, when you do a quarter over quarter comparison, things are even more interesting:
First, the online advertising revenues QoQ:
- Number of advertisers last quarter (quarter ending March 31, 2007) were 177. So, on QoQ basis, number of advertisers has dipped by 5
- The top 5 categories accounted for 61% of total ad revenues last quarter. They accounted for 53% of the total ad revenues this quarter
- The top 10 advertisers contributed 55% of the ad revenue, while they contributed 42% of the total advertising revenue this quarter
When it comes to the total revenues on a QoQ basis:
- Revenues for last quarter totaled $8.48 million as compared to $6.8 million this quarter - 19.8% decrease QoQ
- India online revenues were $6.3 million last quarter as compared to $4.62 million this quarter - a 24.7% decrease QoQ
- On a QoQ basis, US publishing revenues were the same - $2.8 million
- And inspite of the 19.8% decrease in revenues, Rediff still posted a QoQ increase in net income ($2.12 million this quarter, $2 million last quarter)
via release
