JupiterMedia Misses Big

JupiterMedia (JUPM) missed big time, delivering earnings of 7 cents on $35 million in revenues. Consensus estimates were 12 cents on $37.3 million. Shares dropped 30% closing at $6.61 (-2.77). Add that to the list of Internet blowups. this has indeed been a dismal quarter for Internet content. CEO Alan Meckler blamed it on the Jupiterimages acquisition strategy which has yet to deliver results:

"We have been emphasizing the development of our Jupiterimages division and have made significant investments in our image production, technology platforms and direct sales teams over the past several quarters. The full benefits of these investments, as well as the benefits from integrating our many recent image acquisitions, will be more apparent in future quarters," stated Jupitermedia's Chairman and CEO Alan M. Meckler. "Jupitermedia continues to grow as a powerful creator and distributor of a wide range of commercial images and digital content. In addition to the expansion of our image offerings, through several acquisitions we increased our wholly-owned royalty-free music offerings," added Meckler.

Mr Wave Theory

Updated: Eric Savitz has a great story about Alan Meckler buying JupiterMedia stock - and getting hit by the short swing rule.

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