ComScore 1st-quarter net income sinks 17 percent as operating expenses rise

ComScore 1Q net income drops 17 pct, expenses up

RESTON, Va. — ComScore Inc., a research firm that tracks Web traffic, said Wednesday that its first-quarter earnings fell 17 percent, hurt by rising expenses.

For January through March, comScore’s net income dropped to $229,000, or 1 cent per share, from $277,000, or 1 cent per share, in the same period last year.

On a per-share basis, that matches what analysts were expecting on average, according to Thomson Reuters.

Revenue increased 18 percent to $36.1 million from $30.6 million and beat the $35.3 million Wall Street had forecast.

The company said in a statement that demand was high for its Web audience measurement service from clients in consumer packaged goods, pharmaceuticals, financial services and the telecommunications industry.

But an 18 percent jump in operating expenses weighed down its results.

For the current second quarter, comScore said it expects revenue of $39.1 million to $40.2 million. Analysts are predicting $38.4 million.