[R]12:00PM New York – TheStreet.com reported rising sales and income on acquisitions and growing ad sales.[/R]

The Street.com (TSCM: chart) reported third quarter revenue of $16.1 million, an increase of 24% from a year ago from $12.9 million. Net income in the quarter increased 22.6% to $3.8 million, excluding one time tax benefit, from $3.1 million a year ago. Earnings per share in the quarter increased to 13 cents from 11 cents a year ago.

Net income, inclusive of a non-cash income tax benefit of $16.0 million related to the recognition of a deferred tax asset on a portion of the Company’s net operating loss benefits, was $19.8 million, or $0.67 per fully diluted share, as compared to $3.1 million, or $0.11 per fully diluted share, in the third quarter of 2006.

The company recently acquired for $20.7 million, internet branding and web design services company Promotions.com, generated $2.3 million in the two months since the acquisition on August 2, 2007.

In August, 2007 The Company’s wholly owned subsidiary, Stockpickr.com became the first financial social networking site to surpass 100,000 user-generated portfolios, making it the fastest growing financial social networking Web site. Today, the number of portfolios stands at more than 125,000,

Marketing services and paid services revenue in the third quarter of 2007 accounted for 43% and 57% of total revenue, respectively. This compares to a revenue mix of 29% for marketing services and 71% for paid services in the third quarter of 2006. For the nine months ending September 30, 2007, marketing services and paid services revenue accounted for 38% and 62%, respectively, as compared to 29% and 71% in 2006.

TheStreet.com reported a 97% year-over-year increase in non-financial advertising revenue in the quarter. Non-financial advertising revenue represents 49% of total advertising revenue in the quarter, up from 30% in the third quarter of 2006.