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October 21, 1997updated 03 Sep 2016 2:27pm

CNET COMES IN WITH Q3 AS BAD AS EXPECTED

By CBR Staff Writer

CNet Inc came in with third quarter number as bad as it said it would last week, when it announced that it would record worse than expected figures. It duly reported third quarter net losses of $6.2m, up from losses of $4.7m last time, which included a $678,779 loss on a joint venture. Revenues in the quarter rose 92% to $8.7m. the $0.45 loss per share was right in line with its forecast. The higher costs of developing its computers.com site, due to launch later this quarter caused the heavier losses. Cash at the end of the quarter stood at $13.1m, up from $5.0m at the end of the second quarter, the difference being the $10m the company got for its stake in the E! Online joint venture.

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