Gives me the gOOgles->Ask Jeeves reports Q1 loss as revenues fall
EMERYVILLE, Calif., April 24 (Reuters) - Internet search service Ask Jeeves Inc. <ASKJ.O> on Wednesday reported a first-quarter loss and lower revenue, reflecting continued softness in technology spending.
However, the company said it remains confident it can achieve an operating profit in the fourth quarter.
Ask Jeeves, which sells search software to companies and provides a free Internet search engine for consumers, said it lost $10.4 million, or 26 cents per share, in the quarter, compared with a loss of $378.2 million, or $10.55 per share, in the year-ago quarter. The company said its first-quarter loss, excluding unusual items, was $3.5 million, or 9 cents a share.
Revenue declined to $16.1 million from $19.1 million.
There were some encouraging signs, including increased traffic to its online search site. Ask Jeeves recently acquired a rival search engine called Teoma in order to improve search results and build its audience.
Revenue from the Ask Jeeves' Internet search service rose slightly during the quarter, although its Jeeves solutions software revenue fell sharply, reflecting the discontinuation of some international businesses.
04/24/02 17:42 ET |
