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Mediabistro Parent Company WebMediaBrands Narrows Loss, Grows Revenue

Mediabistro.com’s parent company WebMediaBrands posted revenues of $2.5 million for Q2 2010, a 72 percent increase over Q2 2009.

The company’s net loss was $968,000, down from $1.2 million, however, WebMediaBrands grew advertising revenues and job board revenues 171 percent and 110 percent, respectively.

“Our second quarter demonstrated significant year-over-year and sequential quarterly growth in revenues and reductions in operating expenses,” Alan M. Meckler, Chairman and CEO of WebMediaBrands, said in a statement. “We are excited by the success of our trade shows that ran during the second quarter and that covered a variety of social media topics. We continue to develop blogs dealing with social media, social networks, virtual goods and social gaming as well as traditional media topics. We expect these investments should continue to show positive results in future quarters.”

On August 6, WebMediaBrands was notified by NASDAQ that it has 180 days to raise its stock price or risk being delisted from the exchange.

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