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July 16, 1997updated 05 Sep 2016 1:09pm

INFOSEEK Q2 HIT HARD BY RESTRUCTURING CHARGE

By CBR Staff Writer

Web search engine company Infoseek Inc’s second quarter numbers were hit hard by a restructuring charge to cover the costs of exiting non-essential businesses and for paying off top executives that have left. It reported a second-quarter net loss of $11.9m, after a $7.3m restructuring charge, up from a $4.7m loss last time, on revenue that rose 133.8% to $7.7m It claims traffic grew 31% over the previous quarter and delivered around 8 million page views a day in June. Sales of its Ultraseek server accounted for about 6% of revenues; the rest was advertising.

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