Bookings of $262 Million Increased 26% Year over Year

Revenue of $270 Million Increased 25% Year over Year

EPS of $0.09

Deferred Revenue Improved to $383 Million, a 37% Year over Year Increase

Q3 2011 Non-GAAP Bookings and Revenue Growth Expected to be in the Range of 20 - 25% Year over Year; Q3 2011 Non-GAAP EPS Expected to be in the Range of $0.10 - $0.14

Company Reiterates 2011 Guidance

2011 Non-GAAP Bookings and Revenue Growth Expected to be in the Range of 20 - 25% Year over Year; 2011 Non-GAAP EPS Expected to be in the Range of $0.40 - $0.48

NEW YORK--(BUSINESS WIRE)--Monster Worldwide, Inc. (NYSE:MWW) today reported financial results for the second quarter and six months ended June 30, 2011.

Sal Iannuzzi, chairman, president and chief executive officer of Monster Worldwide, said, "We are pleased with our financial performance and solid execution in the second quarter. Bookings in our core careers business increased 30% year over year, despite a challenging macro environment. This strong performance is a testament to the breadth of our product portfolio, global scale and large seeker audience. We delivered on our commitment to improve profitability while remaining focused on product innovation. In the first six months of the year, the increase in operating income was equivalent to approximately 50% of the increase in revenue.

"Innovation is fundamental to our growth strategy as demonstrated by the recent launch of two new offerings - BeKnown^TM, our professional networking application on Facebook, and SeeMore ^TM, the market's first cloud-based semantic search and analytics platform for managing companies' resume databases. These offerings, combined with our portfolio of advanced recruitment products, positions Monster well for future growth," continued Iannuzzi.

Second Quarter Results

Bookings, which represent the dollar value of contractual orders received, and are considered by the Company to be a key indicator of future revenues, increased 26% to $262 million compared to $208 million reported in the second quarter 2010. On a year over year basis, currency translation had a $12 million positive impact on bookings in the second quarter. Historical data on bookings for prior quarters is available in the Company's supplemental financial information.

Revenue of $270 million increased 25% from $215 million in the second quarter 2010. On a year over year basis, currency translation had an $11 million positive impact on revenue in the second quarter.

Total Careers revenue was $236 million, an increase of 28%, compared to $184 million in the second quarter 2010. Careers-North America revenue was $123 million, an increase of 26% compared to $97 million in the second quarter 2010. Careers-International revenue grew 31% to $113 million compared with $87 million in the prior year period.

Internet Advertising & Fees (IAF) revenue was $34 million, an increase of 8% compared to $31 million in the second quarter 2010. Due to the lack of profitability over the last several quarters in IAF's arbitrage lead generation business, and in light of the promulgation of new regulations applicable to the Company's customers in the for-profit education market, the Company has decided to no longer engage in this portion of the IAF segment. This decision will enable the Company to focus on display advertising and lead generation derived from the Company's own sites, the remaining businesses within the IAF segment. The Company's arbitrage lead generation business contributed approximately $11 million in revenue to the total IAF segment in the second quarter 2011 and was essentially break-even on an operating basis.

Operating expenses of $253 million compares to $260 million in the first quarter 2011 or essentially unchanged on a non-GAAP basis. This compares to $219 million in the second quarter 2010, a 15% year over year increase primarily related to a $9 million negative impact from foreign currency translation and the HotJobs acquisition.

Net income for the second quarter 2011 was $11 million, or $0.09 per share. This compares to a net loss of $3.0 million, or $0.02 loss per share, in the second quarter 2010, which included $3.8 million of pre-tax charges or $0.02 per share net of tax. These pre-tax charges are fully described in the "Notes Regarding the Use of Non-GAAP Financial Measures" and included in the reconciliation to the GAAP measure in the accompanying tables.

Cash and cash equivalents were $199 million as of June 30, 2011 compared to $163 million as of December 31, 2010. Monster Worldwide's deferred revenue balance as of June 30, 2011 was $383 million compared to $280 million as of June 30, 2010.

Six Months Results

Monster Worldwide reported total revenue of $531 million for the first six months ended June 30, 2011 compared to $430 million in the same period last year, a 23% increase. Monster Careers revenue increased 27% to $464 million compared with $366 million in the 2010 period. Internet Advertising & Fees reported revenue of $67 million compared to $64 million in the prior year period. The Company reported earnings of $11 million, or $0.09 per share, compared to a loss of $27 million, or $0.23 loss per share, in the prior period.

Company Reiterates Guidance

The Company offered the following business outlook based on current available information and expectations as of July 28, 2011, and reflects the financial impact of the Company's decision to no longer engage in the arbitrage lead generation business.

The third quarter and full year 2011 outlook for bookings and revenue excludes approximately $15 million and $29 million of arbitrage lead generation business, respectively. Growth rates exclude the impact of the arbitrage lead generation business, which accounted for $14 million and $26 million in bookings and revenue in the third quarter 2010 and the second half 2010, respectively. The bookings and revenue outlook provided for 2011 is otherwise unchanged from guidance previously provided on April 28, 2011. There is no impact to the Company's outlook for earnings per share.

Special Note: The statements in this release that are not strictly historical, including, without limitation, statements regarding the Company's strategic direction, prospects and future results, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties and, therefore, actual results may differ materially from what is expressed or implied herein and no assurance can be given that the Company will achieve, among other things, its outlook with respect to bookings, revenue or earnings per share for the third fiscal quarter of 2011 or the full 2011 fiscal year. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, economic and other conditions in the markets in which we operate, risks associated with acquisitions or dispositions, competition, and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated into this release by reference. Many of the factors that will determine the Company's future results are beyond the ability of management to control or predict. Readers should not place undue reliance on the forward-looking statements in this release as they reflect management's views only as of the date hereof. The Company undertakes no obligation to revise or update any of the forward-looking statements contained in this release or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Conference Call and Webcast

Second quarter 2011 results will be discussed on Monster Worldwide's quarterly conference call taking place on July 28, 2011 at 8:30 AM ET. A live webcast of the conference call can be accessed online through the Investor Relations section of the Company's website at http://ir.monster.com. To join the conference call by telephone, please dial (888) 696-1396 or (706) 758-9636 and reference conference ID# 84085736.

A presentation of financial slides will be referenced during the conference call and will be viewable through the live webcast. A PDF of the financial presentation can also be accessed directly at http://about-monster.com/sites/default/files/Q22011earningslidefinal.pdf or through the Company's Investor Relations website at http://ir.monster.com.

The Company has also made available certain supplemental financial information which can be accessed directly at http://about-monster.com/sites/default/files/q211financialsupplement.pdf or through the Company's Investor Relations website at http://ir.monster.com.

For a replay of the conference call, please dial (855) 859-2056 or (404) 537-3406 and reference ID# 84085736. This number is valid until midnight on August 3, 2011.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster® the premier global online employment solution for more than a decade, strives to inspire people to improve their lives. With a local presence in key markets in North America, Europe, Asia and Latin America, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 index. To learn more about Monster's industry-leading products and services, visit www.monster.com.

Notes Regarding the Use of Non-GAAP Financial Measures

The Company has provided certain non-GAAP financial information as additional information for its operating results. These measures are not in accordance with, or an alternative for, generally accepted accounting principles ("GAAP") and may be different from non-GAAP measures reported by other companies. The Company believes that its presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations.

Non-GAAP revenue, operating expenses, operating income, operating margin, net income or loss and diluted earnings per share all exclude certain pro forma adjustments including: severance charges related to the targeted global headcount reduction; facility charges primarily related to changes in sublet assumptions on previously exited facilities; the fair value adjustment to deferred revenue in connection with the acquisition of HotJobs; realized gains on marketable securities; and acquisition and integration-related costs associated with the acquisition of HotJobs. The Company uses these non-GAAP measures for reviewing the ongoing results of the Company's core business operations and in certain instances, for measuring performance under certain of the Company's incentive compensation plans. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

Earnings before interest, taxes, depreciation and amortization ("EBITDA") is defined as net income or loss before interest income or expense, income tax expense or benefit, net gain or loss in equity interests, depreciation and amortization and non-cash compensation expense. The Company considers EBITDA to be an important indicator of its operational strength which the Company believes is useful to management and investors in evaluating its operating performance. EBITDA is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.

Operating income before depreciation and amortization ("OIBDA") is defined as net income or loss from operations before depreciation, amortization of intangible assets, amortization of stock-based compensation and non-cash costs incurred in connection with the Company's restructuring program. The Company considers OIBDA to be an important indicator of its operational strength. This measure eliminates the effects of depreciation, amortization of intangible assets, amortization of stock-based compensation and non-cash restructuring costs from period to period, which the Company believes is useful to management and investors in evaluating its operating performance. OIBDA is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.

Bookings represent the dollar value of contractual orders received in the relevant period.

Free cash flow is defined as cash flow from operating activities less capital expenditures. Free cash flow is considered a liquidity measure and provides useful information about the Company's ability to generate cash after investments in property and equipment. Free cash flow reflected herein is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies. Free cash flow does not reflect the total change in the Company's cash position for the period and should not be considered a substitute for such a measure.

Net cash and securities is defined as cash and cash equivalents plus short-term and long-term marketable securities, less total debt. Total available liquidity is defined as cash and cash equivalents, plus short-term and long-term marketable securities plus unused borrowings under our credit facility. The Company considers net cash and securities and total available liquidity to be important measures of liquidity and indicators of its ability to meet its ongoing obligations. The Company also uses net cash and securities and total available liquidity, among other measures, in evaluating its choices for capital deployment. Net cash and securities and total available liquidity are presented herein as non-GAAP measures and may not be comparable to similarly titled measures used by other companies.