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.
This article is from the CBROnline archive: some formatting and images may not be present.
CBR Online legacy content.