Monster Worldwide (MWW) Report Prelim. Q3 Revenue Drop of ~14%
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Monster Worldwide, Inc. (NYSE: MWW) provided a statement on its expected revenue for the third quarter ended September 30, 2016.
The Company expects revenue from continuing operations to be in the range of $143 million to $145 million. This result is down approximately 14% from third quarter 2015 revenue of $167.1 million.
"Q3 continued to be a challenging business environment," said Tim Yates, CEO, Monster Worldwide. "While we are gaining traction in North America as a result of our new product initiatives and pay per click business, the continued pressure on our core traditional product offerings combined with the weakness in bookings in prior quarters has resulted in a decline in third quarter 2016 revenue in North America of 16% on a year over year basis."
The Company intends to release complete results for the third quarter of 2016 on October 21, 2016.
As previously announced on August 9, 2016, Monster entered into a definitive agreement with Randstad under which Randstad will acquire Monster for $3.40 per share in cash. The transaction is expected to close during the fourth quarter of 2016.
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