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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: silversoldier a/k/a SI Sy who wrote (20058)	7/17/2000 6:12:07 PM
From: KLP	Respond to of 28311

Up Date Reuters: 17:38 Updates with CEO Comment, details... cnbc.com 7/17/00 - UPDATE 1-Go2Net Q3 profit sails past estimates (Updates with CEO comment, details, adds byline) By Scott Hillis SEATTLE, July 17 (Reuters) - Go2Net Inc. (GNET.O) on Monday reported a quarterly operating profit that more than lived up to Wall Street's expectations as the Web site operator and technology provider attracted more advertisers to its network and drew more customers for its Internet commerce tools. The Seattle-based company said that on a pro forma basis excluding special items like stock compensation, operating profits rose to $10.1 million, or 22 cents a share, compared to $3.1 million, or 7 cents a share a year earlier. Go2Net was expected to earn 15 cents a share, according to consensus analyst estimates compiled by First Call/Thomson Financial. Revenues for the three months ended June 30 quadrupled to $23 million from $5.7 million. Shares in Go2Net rose 2-1/2, or more than 4 percent, to 60-1/2 in after-hours trading after the financial results were announced. That followed gains of more than 7 percent in regular trading. In the past 52 weeks, the stock has traded as high as 111-3/4, and as low as 35-3/4. Go2Net runs a network of Web sites such as the Metacrawler search engine and the Silicon Investor personal finance site. The company said the network drew 37.5 million visitors in the quarter, double last year's traffic. Go2Net also supplies Internet-based business services such as its Authorise.Net online payment processing system, and its HyperMart Network that hosts Web pages for small businesses and lets them sell goods online. For the first time, revenues from those sources accounted for the majority of sales, surpassing advertising, Go2Net Chief Executive Russ Horowitz said in an interview. Revenues from licensing, transaction fees and subscription payments making up 52 percent of the total, compared to 43 percent in Go2Net's March quarter, Horowitz said. "We see strength across the board," Horowitz said. "We feel like we're in a good spot to extend this kind of performance." But he said the advertising market was still strong, and noted that advertisers on Go2Net had climbed to 597 by the end of the quarter, compared to 358 a year earlier. Looking ahead, Horowitz said Go2Net would expand its services to take advantage of broadband, or high-speed, Internet technologies such as Web-enabled televisions and wireless devices. Go2Net, which is backed by Microsoft co-founder and billionaire Paul Allen, who has invested heavily in cable television networks that are at the forefront of fast Internet services, was in a "sweet spot" as such technologies matured, Horowitz said. "On the licensing front, we see a whole lot of opportunity as we focus on cross-platform technologies," Horowitz said. "We feel like we're in a sweet spot." Rtr 17:38 07-17-00