And how 'bout this for a triple YEAH BABY!!!
SEATTLE, July 21 (Reuters) - Wall Street's current
assessment of Go2Net Inc.'s (NASDAQ:GNET) growth prospects is weaker
than warranted, based on the Internet portal company's strong
business and recent acquisitions, its chairman said on
Wednesday.
"Based on the rapid increase in our market position,
momentum throughout our business and key recent acquisitions,
we feel that Wall Street's current expectations for Go2Net's
revenues and profits do not fully reflect the underlying
strength in our business, particularly given our opportunities
with transactions-basd e-commerce and small business services,"
Chairman and Chief Executive Officer Russell Horowitz said.
Go2Net on Wednesday reported pro forma second quarter net
income of $3.1 million, or seven cents a diluted share, beating
Wall Street's consensus estimate of five cents a share.
The company said page views across its network rose to 18.5
million a day in June from 12.3 million a day in March.
Seattle-based Go2Net announced several acquisitions during
the second quarter, including a $90.5 million purchase of
online payment authorization service Authorize.net.
Microsoft Corp. (NASDAQ:MSFT) co-founder Paul Allen's Vulcan
Ventures investment vehicle has invested $300 million in
Go2Net, the company said. |
