Bankrate (RATE) Q4 Revenue Misses, Approves $50M Buyback

Bankrate (NYSE: RATE) reported revenue for Q4 of $93.4 million versus the consensus estimate of $134 million.

GUIDANCE:

Bankrate sees Q1 2016 revenue of $80 million, versus the consensus of $98.14 million.

Bankrate's Board of Directors has authorized an additional $50 million share repurchase program. Under the terms of the program, the Company may repurchase up to $50 million of its outstanding common stock. Stock repurchases under this program may be made through open market and privately negotiated transactions. The timing and amount of specific repurchases are subject to the requirements of the Securities and Exchange Commission, market conditions, alternative uses of capital and other factors. The stock repurchase program does not obligate Bankrate to acquire any particular amount of shares and the program may be limited or terminated at any time without prior notice. The program is effective immediately and will expire on December 31, 2017.

For earnings history and earnings-related data on Bankrate (RATE) click here.

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