TFSM, 24/7 Media, Inc. Reports 50 Percent Sequential Revenue Growth in Second Quarter ($-0.27) street expected $-0.37).
NEW YORK--(BUSINESS WIRE)--Aug. 10, 1999--
Recent Company Highlights: -- Generated 50 percent revenue growth in 2Q 1999 from 1Q 1999 and
332 percent revenue growth from 2Q 1998. -- In August, agreed to acquire ConsumerNet.com, a leading online
direct marketing and database management company, further
diversifying 24/7 Media's Internet media offerings. -- In July, acquired ClickThrough Interactive, Canada's leading
Internet advertising sales network, expanding the Company's
global reach. -- In July, launched the NBC Interactive sales initiative, the first
nationwide advertising sales program to offer local market
multimedia advertising solutions for television and the Internet.
24/7 Media, Inc. (NASDAQ: TFSM - news), one of the largest Internet media companies, today announced its financial results for the second quarter ended June 30, 1999.
The Company reported record revenues for the second quarter of $17.2 million, a 50 percent increase compared to revenues of $11.5 million during the first quarter of 1999. The net loss for the second quarter was $7.2 million, or $0.37 per share based on 19.4 million weighted average shares outstanding, compared to a net loss of $7.2 million, or $0.42 per share, in the first quarter of 1999. Net loss for the second quarter before amortization of goodwill was $5.0 million, or $0.26 per share. |
