While much of the attention was on Yahoo!, Inc. (NASDAQ: YHOO), Google, Inc. (NASDAQ: GOOG) and Microsoft Corporation (NASDAQ: MSFT) today, there was actually some good news for other Net stocks. Take Monster Worldwide (NASDAQ: MNST).
For its Q4, Monster reported a 15% increase in net income to $45 million, or $0.36 cents per share. Oh, and revenues spiked 59% to $354 million.
True, the North American market was weak (especially in the financial services space because of the subprime meltdown). However, Monster is seeing lots of traction in foreign markets, such as in Europe, India and South Korea.
What's more, Monster is in the midst of a major transformation. For example, the company is ramping its investments in technology infrastructure, marketing, and customer service. Moreover, there's a bigger emphasis on the user experience (such as with fewer distracting ads).
Monster also recently purchased Affinity Labs, which operates a variety of career portals. The goal is that this will be a cost-effective way for finding hard-to-reach job candidates. Although, the price tag was not cheap, coming to $61 million in cash.
Yet, investors were mostly happy with today's results. The stock was up 7% to $29.82.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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