UPDATE 1-Bankrate Q1 profit trails Street view
* Q1 shr $0.25 vs $0.35 last year
* Q1 adj EPS $0.31 vs estimate of $0.33
* Q1 online revenue down 9 pct
May 7 (Reuters) - Bankrate Inc RATE.O, a financial information-based website operator, posted a lower-than-expected first-quarter profit, hurt by lower online revenue.
The company earned $4.7 million, or 25 cents a share, compared with $6.8 million, or 35 cents a share, a year ago.
On an adjusted basis, the company earned 31 cents a share.
Revenue for the quarter fell 10 percent to $38.3 million.
Analysts were looking for a profit of 33 cents a share, excluding items, on revenue of $40.4 million, according to Reuters Estimates.
The company's primary website, Bankrate.com, provides in-depth information about personal finance, ranging from mortgage rates to credit card comparisons.
Online revenue for the quarter fell 9 percent to $36.5 million, the company said.
Display advertising, a major revenue source for the company, has taken a big hit with businesses cutting down on their advertising spend.
Other companies depending on display advertising revenue such as Internet giant Yahoo Inc (YHOO.O) and media company IAC/InterActiveCorp (IACI.O) have also suffered as major corporations try to stretch their marketing dollars.
The company follows the "pay for performance" advertising model, in which advertisers pay for the actual hits.
Shares of the North Palm Beach, Florida-based company were trading down 30 cents at $24.90 after the bell. They closed at $25.20 Thursday on Nasdaq. (Reporting by Anurag Kotoky in Bangalore; Editing by Jarshad Kakkrakandy)
