InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 130.68

-4.9%

Dec 12 9:30 AM EST

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To: Susan G who wrote (10046)	7/21/1999 6:40:00 PM
From: Sgt. Stockpile	Read Replies (3) of 28311

MUSIC TO OUR EARS.... Go2Net CEO says Wall St. underestimating business SEATTLE, July 21 (Reuters) - Wall Street's current assessment of Go2Net Inc.'s (Nasdaq:GNET - news) 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 - news) co-founder Paul Allen's Vulcan Ventures investment vehicle has invested $300 million in Go2Net, the company said.

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