Why WebMD Shares Felt Sick Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of WebMD (NAS: WBMD) felt rather ill today, down by as much as 14%, after the company reported earnings results.
So what: Revenue in the third quarter totaled $117.5 million, which was slightly better than expected. The same can be said of the net loss of $0.02 per share. WebMD continues to face challenges, but the results were in line with the company's own guidance.
Now what: CEO Cavan Redmond said that WebMD expects its challenges to continue into 2013, but management continues to work on making cost reductions and invest in future growth. Full-year revenue is expected to be between $455 million and $470 million, making the consensus forecast of $461.5 million within reach. Net loss per share for the full year is predicted in the range of $0.23 to $0.38.
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The article Why WebMD Shares Felt Sick Today originally appeared on Fool.com.Evan Niu, CFA, has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.