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Technology Stocks : Broadcast.com (Acquired by Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: Tradegod who wrote (272)	10/16/1998 5:06:00 PM
From: Beltropolis Boy	Respond to of 1260

Broadcast.com Reports Record Third Quarter Financial Results Revenue Increased 134% from Same Period in 1997 DALLAS, Oct. 12 /PRNewswire/ -- Broadcast.com (Nasdaq: BCST) today reported revenue totaling $4.5 million for the third quarter ended September 30, 1998, an increase of 134% from $1.9 million reported in the same period in 1997. Net loss for the third quarter was $3.9 million, or $0.23 per basic and diluted share, compared with a net loss of $1.9 million, or $0.16 per share during the third quarter of 1997. Revenue for the nine months ended September 30, 1998 was $11.4 million, up 155% from $4.5 million reported for the nine months ended September 30, 1997. Net loss for the nine-month period was $10.5 million, or $0.70 per basic and diluted share, compared with a net loss of $4.4 million, or $0.38 per share during the same period of 1997. "Broadcast.com is clearly positioned as the leading Internet portal and destination for video and audio broadcasts for both consumers and businesses," commented Todd Wagner, Chief Executive Officer of broadcast.com. "We are experiencing significant traction in our business model as we secured multi-year commitments in both our business services and advertising groups during the quarter. Our business services group continues to build momentum, with strong repeat customer business and 65 new customers in the quarter as we expand into additional vertical markets." Wagner continued, "We have also continued to see significant growth in traffic and advertising on our site over the quarter, with traffic growing to a daily average of over 520,000 unique users. During the quarter we introduced a new distribution partnership with ESPN.com, while we continued to leverage existing partnerships with Yahoo, Microsoft, and RealNetworks, all driving more visitors to our site. Going forward, we continue to focus on maintaining our first mover advantage, aggregating content, developing our network infrastructure and capitalizing on opportunities through these distribution partnerships." Broadcast.com posted strong growth in all revenue segments, with business services revenue representing the highest percentage of total revenue, 44% for the quarter. Revenue from this segment increased to $2.0 million for the third quarter ended September 30, 1998, a 144% improvement over the same period of 1997. This revenue increase was attributed primarily to a growing number of business services events broadcast by the Company. The Company broadcast 422 business services events in the third quarter of 1998, compared to 188 events broadcast in the third quarter of 1997. For the nine months ended September 30, 1998, the Company broadcast 1,166 business services events, up 151% from 464 events for the same period of 1997. Through September 30, 1998, the Company has broadcast over 2,100 business services events. Total advertising revenue increased to $2.2 million for the third quarter ended September 30, 1998, an increase of 105% over the same period of 1997. This includes $1.7 million in Web advertising revenue in the third quarter of 1998, an increase of 146% over the third quarter of 1997.