QuinStreet Shares Drop 15% as Fiscal Q1 Misses Views

QuinStreet shares were lower 15% on Thursday after the online performance marketing company reported a fiscal Q1 net loss of $0.08 per share, up from a loss of $0.14 a year ago but worse the $0.07 loss expected by analysts polled by Capital IQ.

Revenue was $73.4 million, lagging behind Wall Street estimates of $82.50 million, according to Capital IQ.

The company also unveiled a corporate revamp to increase profitability. The company expects to incur a one-time restructuring charge in the range of $2.5 million to $3.5 million next quarter.The measures will reduce fixed costs by approximately $17 million annually, including a reduction in personnel costs of approximately 25%, it said. Benefits from the overhaul will begin to take effect next quarter.

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