Monster Worldwide Reports First Quarter 2007 Results

Monster Worldwide, Inc. (NASDAQ:MNST) today reported financial
results for the first quarter ended March 31, 2007.

Total revenue grew 28% overall and 24% organically to $329.0
million in the first quarter of 2007 from $257.0 million in the
comparable quarter of 2006.

Monster Careers revenue increased 29% to $290.2 million, compared
with $224.6 million in last year's comparable quarter, as
International revenue grew 64% to $106.2 million and North American
Careers increased 15% to $184.0 million in the first quarter of 2007.
The Internet Advertising & Fees business grew revenue 20% to $38.8
million in the first quarter of 2007.

Monster Worldwide's deferred revenue balance at March 31, 2007 was
$449.8 million, representing a 31% increase from last year's first
quarter balance of $343.3 million, and up slightly from the $444.1
million reported at December 31, 2006.

Income from continuing operations was $39.7 million while diluted
earnings per share from continuing operations were $0.30 in the first
quarter of 2007. Income from continuing operations includes $9.8
million, or $0.05 per diluted share on an after-tax basis, for legal
and professional fees related to the continuing investigations of the
Company's historical stock option grant practices.

At March 31, 2007, the Company's net cash position was $673.5
million compared with $572.9 million at December 31, 2006. Cash
generated from operating activities was $79.0 million compared to
$82.1 million in the first quarter of 2006. Free cash flow was $57.4
million versus $72.6 million in the comparable quarter of the prior
year. Capital expenditures totaled $21.6 million in the first quarter
of 2007.

On April 11, 2007, the Company appointed Salvatore Iannuzzi to the
positions of Chairman of the Board of Directors and Chief Executive
Officer. Mr. Iannuzzi has been a member of the Board of Directors of
Monster Worldwide since July 2006 and was named Chairman of the
Executive Committee in October 2006.

"Our strong first quarter revenue growth and operating performance
demonstrates Monster's leading global position in the online careers
market," said Mr. Sal Iannuzzi, Chairman and CEO of Monster Worldwide.
"Since assuming the position of CEO, I have and will continue to work
closely with our associates to maintain our long term focus on
investing and growing the business. Our objectives center on building
the powerful Monster brand, enhancing the user experience, providing
quality service to our customers and generating value to our
shareholders. On a personal note, I look forward to leading Monster
Worldwide and working with the many talented and dedicated employees
across the Company."

Lanny Baker, Monster Worldwide's Chief Financial Officer, added
"First quarter revenue growth of 28% was driven by exceptional
performance in Monster's International business and solid, but
reduced, growth in Careers North America and Internet Advertising &
Fees. In the first quarter we invested in key long-term growth
initiatives, while simultaneously generating solid earnings growth and
healthy cash flows. Looking to the second quarter and balance of 2007,
we expect continued strong, but more moderate overall revenue growth,
with expense levels that will reflect our commitment to invest in
Monster's product, people and brand. As a result, we now anticipate
somewhat lower earnings levels for 2007 than we had previously
indicated. Additionally, our second quarter and full year outlook now
includes $12.7 million of severance costs related to the resignation
of the Company's former Chief Executive Officer."

Recent Company Developments

Monster Worldwide Launched Career Ad Network

In March 2007, Monster Worldwide announced the availability of the
Monster Career Ad Network(TM), a recruitment media product that helps
employers reach the millions of active job seekers on Monster's
network of career management sites, while also targeting the broader
pool of passive job candidates who may be open to new career
opportunities that match their backgrounds and interests. The first
solution of its kind, the Career Ad Network merges Monster's expertise
in careers, online media and marketing to enable the creation of
targeted and creative job advertising campaigns.

Media Alliance Update

As part of the Company's continuing strategy to increase its sales
distribution points, the Company announced a strategic alliance with
The New York Times Company in February 2007. The alliance will involve
co-branded newspaper and online job sections of The New York Times,
The Boston Globe and 16 regional newspapers owned by The New York
Times Company. Monster's newspaper alliances now represent 60 daily
newspapers with daily circulation of approximately 6 million readers,
representing approximately 11% of the total circulation of daily
newspapers in the United States.

Monster also expanded its media strategy by partnering with Adicio
Inc., the leading provider of interactive classified advertising
software for media companies. Adicio's 250+ clients will now be able
to utilize Monster's industry-leading tools and resources, with Adicio
also providing technical support for media companies selecting Monster
for recruitment services. Monster also expanded its existing
relationship with Internet Broadcasting, the nation's largest web
publisher for local Television stations. Monster will power co-branded
career sites for 120 of Internet Broadcasting's local TV web sites,
including many in the top 20 U.S. markets.

Business Outlook

The business outlook below includes only selected financial
statement line items, none of which include any legal or other fees or
expenses related to the ongoing stock option investigations and
related litigations. The investigations of the Company's historical
stock option practices continue to center on external investigations
by government agencies of the conduct of former employees, and the
defense of shareholder lawsuits. The Company cannot forecast these
costs with any certainty.

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Second
$'s in millions Quarter 2007 Full Year 2007
-------------- --------------
Total Revenue $333-$341 $1,360-$1,395
Non-GAAP Operating Expenses* $282-$290 $1,070-$1,100
Interest and Other, net $5-$6 $23-$25
Effective Income Tax Rate 35% 35%
Losses in Equity Interest $(3)-$(2) $(11)-$(9)
*Excludes ongoing costs associated with the stock option
investigations, related litigations and potential fines or
settlements.
*T

The Operating Expenses included in the Company's outlook ranges
are non-GAAP financial measures within the meaning of Regulation G as
promulgated by the Securities and Exchange Commission because they do
not include legal costs and expenses that the Company will incur as a
result of its historical stock option granting practices. Because the
Company cannot reasonably estimate or predict these costs and
expenses, the Company cannot calculate the most directly comparable
GAAP measure of Operating Expenses that would include such legal costs
and expenses. Therefore, the Company cannot reconcile the non-GAAP
measure to the most directly comparable GAAP measure. While the amount
of the legal costs and expenses associated with the Company's
historical stock option granting practices is likely to be material,
the Company believes that such costs and expenses are of limited
significance to an evaluation of the Company's business fundamentals,
since such costs and expenses bear little relation to the Company's
core business or operating prospects.

The preceding forward-looking statements regarding our business
outlook reflect Monster Worldwide's expectations as of April 26, 2007.
These expectations do not include the effect of any future
acquisitions or dispositions, costs associated with the ongoing
investigations and litigation relating to past stock option grants
(including the likely professional fees and other costs, potential
fines or settlements, and excise or other tax liabilities), or factors
outside of our control, which may have an impact on future financial
results and are subject to the Special Note regarding forward-looking
statements elsewhere in this release.

Supplemental Financial Information

The Company has made available certain supplemental financial
information, in a separate document that can be accessed directly at
http://www.monsterworldwide.com/Q107.pdf or through the Company's
Investor Relations website at http://ir.monsterworldwide.com.

Conference Call Information

First quarter 2007 results will be discussed on Monster
Worldwide's quarterly conference call taking place on April 26,
2007 at 10:00 AM EDT. To join the conference call, please dial in on
1-888-551-5973 at 9:50 AM EDT and reference conference ID#: 5134683.
For those outside the United States, please call in on (706) 643-3467
and reference the same conference ID#. The call will begin promptly at
10:00 AM EDT. Individuals can also access Monster Worldwide's
quarterly conference call online through the Investor Relations
section of the Company's website at www.monsterworldwide.com. For a
replay of the call, please dial (800) 642-1687 or for outside the
United States dial (706) 645-9291 and reference ID # 5134683. This
number is valid until midnight on May 3, 2007.

About Monster Worldwide

Monster Worldwide, Inc. (NASDAQ: MNST), parent company of
Monster(R), the premier global online employment solution for more
than a decade, strives to bring people together to advance their
lives. With a local presence in key markets in North America, Europe,
and Asia, 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 and the NASDAQ 100. To learn more about Monster's
industry-leading products and services, visit www.monster.com. More
information about Monster Worldwide is available at
www.monsterworldwide.com.

Notes Regarding the Use of Non-GAAP Financial Measures

Monster Worldwide, Inc. (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, such
as operating income before depreciation and amortization, free cash
flow and net cash, provides useful information to management and
investors regarding certain financial and business trends relating to
its financial condition and results of operations. In addition, the
Company's management uses these measures for reviewing the financial
results of the Company and for budgeting and planning purposes.

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

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 is defined as cash and cash equivalents plus marketable
securities, less total debt. The Company considers net cash to be an
important measure of liquidity and an indicator of its ability to meet
its ongoing obligations. The Company also uses net cash, among other
measures, in evaluating its choices for capital deployment. Net cash
presented herein is a non-GAAP measure and may not be comparable to
similarly titled measures used by other companies.

Special Note: Except for historical information contained herein,
the statements made in this release 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,
including statements regarding the Company's strategic direction,
prospects and future results. Certain factors, including factors
outside of our control, may cause actual results to differ materially
from those contained in the forward-looking statements, including
economic and other conditions in the markets in which we operate,
risks associated with acquisitions, competition, ongoing costs
associated with the stock option investigations 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
in this release by reference.

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MONSTER WORLDWIDE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)

Three Months Ended
March 31,
-------------------
2007 2006
--------- ---------

Revenue $329,028 $257,036
-------------------------------------------------- --------- ---------

Salaries and related 122,347 91,553
Office and general 70,417 46,745
Marketing and promotion 78,069 65,799
-------------------------------------------------- --------- ---------
Total operating expenses 270,833 204,097
-------------------------------------------------- --------- ---------

Operating income 58,195 52,939

Interest and other, net 5,304 3,130
-------------------------------------------------- --------- ---------

Income from continuing operations before income
taxes and equity interests 63,499 56,069

Income taxes 22,352 20,411
Losses in equity interests (1,420) (1,241)
-------------------------------------------------- --------- ---------

Income from continuing operations 39,727 34,417

Income (loss) from discontinued operations, net of
tax (245) 7,845
-------------------------------------------------- --------- ---------

Net income $ 39,482 $ 42,262
================================================== ========= =========

Basic earnings per share:

Earnings per share from continuing operations $ 0.31 $ 0.27
Earnings per share from discontinued operations,
net of tax - 0.06
------------------------------------------------------------ ---------
Basic earnings per share* $ 0.30 $ 0.33
================================================== ========= =========

Diluted earnings per share:

Earnings per share from continuing operations $ 0.30 $ 0.26
Earnings per share from discontinued operations,
net of tax - 0.06
------------------------------------------------------------ ---------
Diluted earnings per share $ 0.30 $ 0.32
================================================== ========= =========

* - Basic earnings per share does not add for the quarter ended March
31, 2007 due to rounding.

Weighted average shares outstanding:

Basic 129,653 126,753
================================================== ========= =========

Diluted 132,464 130,619
================================================== ========= =========

Operating income before depreciation and
amortization:

Operating income $ 58,195 $ 52,939
Depreciation and amortization of intangibles 9,981 9,772
Amortization of stock based compensation 4,362 2,029
-------------------------------------------------- --------- ---------

Operating income before depreciation and
amortization $ 72,538 $ 64,740
================================================== ========= =========
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MONSTER WORLDWIDE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

Three Months Ended
March 31,
---------------------
2007 2006
---------- ----------
Cash flows provided by operating activities:
Net income $ 39,482 $ 42,262
------------------------------------------------ ---------- ----------
Adjustments to reconcile net income to net cash
provided by operating activities:
(Income) loss from discontinued operations,
net of tax 245 (7,845)
Depreciation and amortization of intangibles 9,981 9,772
Provision for doubtful accounts 2,483 2,824
Non-cash compensation 4,362 2,029
Common stock issued for matching contribution
to 401(k) plan - 996
Deferred income taxes 2,100 6,736
Minority interests and other 1,420 1,235
Changes in assets and liabilities, net of
business combinations:
Accounts receivable 25,170 (3,062)
Prepaid and other (2) (1,492)
Deferred revenue 5,691 15,900
Accounts payable, accrued liabilities and
other (8,950) 8,377
Net cash provided by (used for) operating
activities of discontinued operations (2,983) 4,326
------------------------------------------------ ---------- ----------
Total adjustments 39,517 39,796
------------------------------------------------ ---------- ----------
Net cash provided by operating activities 78,999 82,058
------------------------------------------------ ---------- ----------

Cash flows used for investing activities:
Capital expenditures (21,612) (9,416)
Purchase of marketable securities (365,031) (334,990)
Sales and maturities of marketable securities 311,662 238,001
Payments for acquisitions and intangible
assets, net of cash acquired (1,664) (1,450)
Investment in unconsolidated affiliate - (19,936)
Cash funded to equity investee (2,500) -
Net cash used for investing activities of
discontinued operations - (2,469)
------------------------------------------------ ---------- ----------
Net cash used for investing activities (79,145) (130,260)
------------------------------------------------ ---------- ----------

Cash flows provided by financing activities:
Payments on capital lease obligations - (276)
Payments on acquisition debt (16,310) (22,205)
Proceeds from exercise of employee stock
options 43,395 59,594
Excess tax benefits from stock option
exercises 6,486 11,275
Repurchase of common stock (3,326) (8,537)
Structured stock repurchase, net - (22,758)
------------------------------------------------ ---------- ----------
Net cash provided by financing activities 30,245 17,093
------------------------------------------------ ---------- ----------

Effects of exchange rates on cash 963 547

Net increase (decrease) in cash and cash
equivalents 31,062 (30,562)
Cash and cash equivalents, beginning of period 58,680 196,597
------------------------------------------------ ---------- ----------
Cash and cash equivalents, end of period $ 89,742 $ 166,035
================================================ ========== ==========

Free cash flow:

Net cash provided by operating activities $ 78,999 $ 82,058
Less: Capital expenditures (21,612) (9,416)
------------------------------------------------ ---------- ----------
Free cash flow $ 57,387 $ 72,642
================================================ ========== ==========
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MONSTER WORLDWIDE, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)

Assets: March 31, 2007 December 31, 2006
-------------- -----------------

Cash and cash equivalents $ 89,742 $ 58,680
Marketable securities 591,262 537,893
Accounts receivable, net 417,329 444,747
Property and equipment, net 115,729 102,402
Goodwill and intangibles, net 640,815 640,736
Other assets 202,938 185,345
------------------------------------- -------------- -----------------
Total assets $ 2,057,815 $ 1,969,803
===================================== ============== =================

Liabilities and Stockholders' Equity:

Accounts payable, accrued expenses
and other $ 279,032 $ 358,850
Deferred revenue 449,836 444,145
Long-term income taxes payable 84,480 -
Other liabilities 39,496 33,459
Debt 7,469 23,664
------------------------------------- -------------- -----------------
Total liabilities 860,313 860,118
------------------------------------- -------------- -----------------

Stockholders' equity 1,197,502 1,109,685

------------------------------------- -------------- -----------------
Total liabilities and stockholders'
equity $ 2,057,815 $ 1,969,803
===================================== ============== =================
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MONSTER WORLDWIDE, INC.
UNAUDITED OPERATING SEGMENT INFORMATION
(in thousands)

MONSTER
------------------------------------------------
Three Months Ended Careers - Internet
March 31, 2007 North Careers - Advertising
America International & Fees Subtotal
--------------------- ---------- -------------- ------------ ---------

Revenue $184,017 $ 106,206 $38,805 $329,028
Operating income 65,878 7,961 4,304 78,143
OIBDA 71,150 12,594 6,439 90,183

Operating margin 35.8% 7.5% 11.1% 23.7%
OIBDA margin 38.7% 11.9% 16.6% 27.4%

MONSTER
------------------------------------------------
Three Months Ended Careers - Internet
March 31, 2006 North Careers - Advertising
America International & Fees Subtotal
--------------------- ---------- -------------- ------------ ---------

Revenue $159,998 $ 64,591 $32,447 $257,036
Operating income 54,559 765 9,486 64,810
OIBDA 58,652 4,724 11,608 74,984

Operating margin 34.1% 1.2% 29.2% 25.2%
OIBDA margin 36.7% 7.3% 35.8% 29.2%

Three Months Ended Corporate
March 31, 2007 Expenses Total
--------------------- ---------- ---------

Revenue $329,028
Operating income $(19,948) 58,195
OIBDA (17,645) 72,538

Operating margin 17.7%
OIBDA margin 22.0%

Three Months Ended Corporate
March 31, 2006 Expenses Total
--------------------- ---------- ---------

Revenue $257,036
Operating income $(11,871) 52,939
OIBDA (10,244) 64,740

Operating margin 20.6%
OIBDA margin 25.2%
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