InfoSpace reported a pro forma net loss of $5.5 million, or ($0.02) per share, exceeding the Company’s guidance for the quarter by $0.02 per share.
Key financial and operating metrics:
InfoSpace ended the first quarter with more than two million registered wireless subscribers.
Wireless revenues increased to approximately 20 percent of total revenues.
More than $500 million was processed through InfoSpace’s commerce products resulting in more than 50 percent of total merchant revenues. Balance sheet remains strong and healthy with cash, cash equivalents and investments of more than $450 million and no debt.
With the rapid adoption of our wireless services, new customer wins and significant growth in the amount of transactions processed, InfoSpace continues to demonstrate its strength and ability to generate new business and pursue favorable market opportunities, said Naveen Jain, chairman and CEO, InfoSpace, Inc. With the expected roll out of next generation networks this year and the launch of innovative new applications, there are many exciting and positive things happening for InfoSpace that we believe will provide catalysts for new growth in the future.
