August 4, 2009, 12:00 AM

Web measurement firm comScore reports record revenue, but lower net income

The company had second quarter revenue of $31.4 million, up 9% from last year. But net income declined 29% to $1.2 million.

Web measurement firm comScore Inc. has reported record revenue in the second quarter, but lower net income.

 

  • Q2 revenue totaled $31.4 million, 9% more than $28.8 million in the same quarter last year, and slightly above the company’s expectations.
  • Net income declined 29% to $1.2 million from $1.7 million.
  • The firm’s customer count increased 8.2% to 1,195 from 1,104.
  • Subscription revenue increased 13.5% to $26.9 million, while project revenue declined nearly 12% to $4.5 million.

 

“We are pleased to report second quarter results that exceeded our expected ranges,” says president and CEO Magid Abraham. “Our overall revenue growth in the quarter was 9% while subscription revenue growth was 14%, both compared to the second quarter of 2008. With healthy renewals among our medium and large customers, we saw renewals within our historical range of 90% or higher on a dollar basis, though we continued to see weaker renewals for our smallest customers, who were particularly affected by the economic downturn, in the second quarter.”

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