EARNINGS REPORTING - surprises, misses & more Message Board

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Non-Tech : EARNINGS REPORTING - surprises, misses & more

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To: 2MAR$ who wrote (74)	5/8/2000 12:43:00 AM
From: 2MAR$	Read Replies (3) of 762

PHCM....Phone.com loss narrows; sales strong(4/19) Subscriber use in third quarter nearly triples cbs.marketwatch.com REDWOOD CITY, Calif. (CBS.MW) -- Phone.com recorded a narrower-than-expected third-quarter loss on stellar sales after the market closed on Wednesday. The Redwood City, Calif. -based company provides software that delivers Internet-based services to mass market wireless telephones. After the market closed, the mobile Internet software provider said it lost $5.9 million, or 8 cents a share, in the third quarter, excluding amortization of goodwill and stock compensation, compared to a loss of 50 cents in the year-ago quarter. Analsyst polled by First Call forecasted a loss of 16 cents a share. Quarterly sales shot up 428 percent to $18.7 million from $3.5 million in the same period a year earlier. The increase in number of users of Phone.com's products worldwide rose to over 2 million, up from 700,000 at the end of last year. Credit Suisse First Boston analyst Marc Cabi reiterated his "strong buy" rating ahead of the release, citing the "solid momentum" in mobile Internet adoption around the world and demand for "Internet-ready phones outpacing supply." Cabi expects upside to his sales and bottom-line estimates of $15.7 million and a loss of 15 cents, respectively. Phone.com (PHCM: news, msgs) shares fell 3 1/16 to close at 73 15/16 ahead of the announcement.

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