Demand Media Reports $79.5 Million In Q1 Revenues
Demand Media Inc (NYSE:DMD) is a company that was founded in 2006 by Richard Rosenblatt. Rosenblatt was previously the CEO of MySpace parent company Intermix Media before News Corp. acquired them. Demand Media went public earlier this year and reported their first quarter earnings today. Demand Media reported $79.5 million in revenues for the quarter, which is a 48% increase from their Q1 2010 revenues of $53.6 million. Analysts were expecting $69.49 million in Q1 revenues.
“We reported better-than-expected results in Q1 2011, driven primarily by continued momentum from our owned and operated sites…We also continued to invest in Demand Media’s long-term success, enhancing our consumer offerings through new partnerships with Rachael Ray, Tyra Banks and Getty Images. We believe our publishing platform is the most comprehensive and effective of any online publisher and our focus on delivering relevant, valuable content that makes consumers’ lives better will continue to drive our success,” stated Rosenblatt.
Demand Media owns properties such as LiveStrong.com, eHow.com, Trails.com, GolfLink, and Cracked.com. Google’s algorithm change has affected eHow’s traffic directly. eHow’s traffic has been down in the past quarter.@amitchowdhry or on Google+ at +AmitChowdhry