Demand For Demand Media As Company Blows Out Expectations (DMD)

Demand Media Inc DMD shares are soaring in after-hours trading, up more than 10% after the company reported better than expected earnings. The company reported revenues of $79.5 million, up 48% from last year. Wall Street had been expecting $69.49 million in revenues. The company reported a loss of 13 cents per share. “We reported better-than-expected results in Q1 2011, driven primarily by continued momentum from our owned and operated sites,” said Richard Rosenblatt, Chairman and CEO of Demand Media. “We also continued to invest in Demand Media's long-term success, enhancing our consumer offerings through new partnerships with Rachael Ray, Tyra Banks and Getty Images. We believe our publishing platform is the most comprehensive and effective of any online publisher and our focus on delivering relevant, valuable content that makes consumers' lives better will continue to drive our success.” The company said it expects to have revenues in the second quarter of $73.5-$77.5 million, and full year revenues are projected to come in at $320-$330 million. At last check, shares of Demand Media were up 12.8% in after-hours, a gain of $2.09 to $18.40.