October 28, 2010 / 8:52 PM / 9 years ago

UPDATE 2-Monster raises FY outlook on strong bookings, shares up

* Q3 adj EPS $0.02 vs est $0.00

* Q3 revenue $228.8 mln vs est $229.7 mln

* Narrows 2010 loss view; raises sales outlook

* Shares up 10 pct after market (Rewrites, adds conf call details, updates share activity)

BANGALORE, Oct 28 (Reuters) - Monster Worldwide Inc MWW.N, which runs the Monster and HotJobs recruiting websites, raised its full-year outlook on strong bookings as economies around the world showed signs of improvement, sending its shares up 10 percent in extended trade.

Although job growth remains anemic in developed countries in Western Europe and the United States, online demand for workers has been improving. Monster’s monthly gauge of U.S. online labor demand edged up in September. [ID:nNLL6LE6J2]

Bookings, an indicator of future revenues, were up 26 percent to $235 million, the company said, adding that it experienced strong bookings growth in China.

For the full-year, Monster expects bookings to grow 23-24 percent.

The company now sees a full-year adjusted loss of 5-9 cents a share, on revenue of $919-$933 million, while analysts were expecting a loss of 10 cents, on revenue of $917.9 million, according to Thomson Reuters I/B/E/S.

In July, it had forecast a full-year loss of 6-14 cents a share, on sales of $890-925 million. [ID:nASA00L1C]

This year, Monster completed the acquisition of rival HotJobs.com and set a three-year traffic agreement with Yahoo Inc. YHOO.O.

The recently introduced resume search, or PRS, in France received significant customer interest, the company said on a conference call with analysts.

STRONG Q3

For July-September, New York-based Monster reported a loss of $5.7 million, or 5 cents a share, compared with net income of $32.8 million, or 27 cents a share, a year ago.

Excluding items, it earned 2 cents a share, while analysts expected the company to break even, according to Thomson Reuters I/B/E/S. [ID:nASA00XBU]

Revenue rose 7 percent to $228.8 million, compared with Wall Street forecasts of $229.7 million.

The company’s shares, which closed at $14.39 Thursday on the New York Stock Exchange, were up 10 pct at $15.91 in extended trade. Monster shares have risen about 35 percent since the company signed a multi-year traffic deal with Yahoo in late August. (Reporting by Fareha Khan in Bangalore; Editing by Anne Pallivathuckal and Vinu Pilakkott)

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