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Monster Worldwide Stock Drops on Monstrous 2Q Earnings Report

TheStreet

Monster Worldwide, the company behind the jobs site Monster.com, posted earnings that sent the shares down in Tuesday's session. Earnings of 8 cents a share were below estimates of 9 cents a share and last year's second quarter earnings of 12 cents a share. Revenues of $194.4 million was below estimates of $198.8 million and revenues of $200 million in the prior year's quarter. Monster also said it expects third quarter results to be at most 4 cents a share. However, Monster is trying to turn things around with three new product offerings in North America that Monster says has seen strong initial reception with customers. Monster Worldwide is down 19% since the beginning of the year. Whalen MacHale reports for TheStreet from New York.