WebMD Health says Q1 results to top market views
WebMD Health (NASDAQ:WBMD), a provider of health information services, said Tuesday that it expects its first quarter results to exceed analyst estimates, as traffic to its website continued to grow.
The company said that it expects first quarter results will surpass First Call analyst estimates of $126.2 million in revenue, $34.0 million in adjusted EBITDA, and $8.9 million in income from continuing operations.
Traffic to the WebMD Health Network rose to an average of 97.7 million unique users per month, and to total traffic of 2.05 billion page views during the first quarter, increases of 19% and 14%, respectively, from a year ago.
WebMD also reaffirmed its forecast for 2011, with income from continuing operations adjusted only for the effects of a convertible notes issuance.
In March, the company closed a private placement of $400 million convertible notes. The issuance was not contemplated when it provided the full-year guidance in February, it said.
As a result, income from continuing operations for the year is now expected in the range of $1.16 to $1.34 per share, down from the original guidance of $1.22 to $1.40 per share. Revenues are anticipated to be between $610 and $640 million.
Analysts are expecting $1.29 per share on revenues of $632.3 million for 2011.
The company is due to release its full first quarter results on Thursday, May 5. WebMD's shares were up nearly 4% on Tuesday to trade at $51.15 as of 1:55pm EST.
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