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Monster Worldwide 2Q profit drops 99 percent

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NEW YORK (AP) — Monster Worldwide Inc. on Tuesday reported net income that declined by 99 percent in its second quarter, and missed analysts' expectations.

The New York-based company said earnings declined to $34,000, or roughly breakeven on a per-share basis, from $3.4 million, or 3 cents per share, in the same quarter a year earlier.

Earnings, adjusted for stock option expense, were 8 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The online job search company said revenue decreased 2.8 percent to $194.4 million from $200.1 million in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $198.6 million, according to Zacks.

Monster Worldwide shares have declined 51 cents, or 7.2 percent, to $6.62 since the beginning of the year. However, the stock has risen $1.69, or 34 percent, in the last 12 months.

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