Global job board Monster Worldwide Inc. (MWW: NYSE) yesterday reported revenue of USD 186.2 million for the fourth quarter ending 31 December 2014, a decrease of 6.3% compared with USD 198.7 million during the same period last year.
The company partly attributed its lower Q4 2014 revenue to a USD 4 million unfavourable foreign currency impact.
During the fourth quarter Monster also reported a pre-tax goodwill impairment of USD 325.8 million, which increased total operating expenses for the quarter by 173.5% from USD 188.7 million in Q4 2013 to USD 516.1 million this year.
Primarily driven by the reduction in Monster’s market capitalisation, the company concluded that the carrying amount of goodwill exceeded its estimated fair value for both the Careers – North America and Internet Advertising & Fees operating segments.
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