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May 10, 2007
Wall Street Divorces The Knot
Shares in The Knot (KNOT) plunged 14% as the wedding site screwed its quarterly numbers. The company earned $1.6M, or 5 cents a share, on revenue of $21M. Analysts expected earnings of 8 cents a share on revenue of $23.4M.
We view The Knot's problems as similar to those of Planet Out. They are both niche sites dependent on key advertisers where expectations are too high to hit. Perhaps both of these companies should be privatized.
Posted by Paul at May 10, 2007 09:31 PM
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