Headline: Go2Net Again Beats Estimates As 2nd-Quarter Revenue Soars
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NEW YORK -(Dow Jones)- Internet network operator Go2Net Inc. posted
much better-than-expected core earnings for its fiscal second quarter as
revenue jumped more than fourfold.
For the quarter ended March 31, the Seattle-based company had a net
loss of $11.5 million, or 38 cents a share, compared with a net loss of
$1.1 million, or $2.04 a share, in the year-ago period. Revenue soared
to $18.7 million from $4.3 million.
Go2Net (GNET) said excluding amortization and merger-related costs, it
earned $8.3 million, or 18 cents a share, in the latest quarter.
The mean estimate of analysts surveyed by First Call/Thomson Financial
was for earnings of 11 cents a share. Go2Net similarly blew by the
analysts' estimate in the fiscal first quarter.
The company said that excluding payment of $52.9 million in preferred
dividends in the year-earlier quarter, it earned three cents a share.
The company, which operates a network of financial, entertainment and
electronic-commerce Web sites, said average views on its network in
March jumped 177% from year-ago levels.
(Compiled from Dow Jones Newswires and other sources)
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