Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: TokyoMex who wrote (2125)	9/24/1998 8:58:00 PM
From: Gary Wisdom	Read Replies (2) \| Respond to of 19700

According to this take, CMGI missed the quarter. I hope that Wall Street appreciates the good part of the report more than the 2 cent miss. CMG posts $16.5 million profit By Corey Grice Staff Writer, CNET News.com September 24, 1998, 5:25 p.m. PT CMG Information Services, which owns a stake in Lycos and GeoCities, posted fourth-quarter net income of $31.4 million, or $1.27 per share, compared to a net loss of $5 million, or 26 cents per share, for the like quarter a year ago. Excluding pre-tax gains from the sale of Lycos stock, the company reported a loss of $14.7 million, or 60 cents per share, according to CMG chief financial officer Andy Hajducky. Wall Street predicted the company would post a loss of 58 cents a share, according to First Call. Quarterly revenue rose to $28.1 million from $22.1 million a year ago. For the 1998 fiscal year ended July 31 CMG reported net income of $16.5 million, or 74 cents a share, compared with a loss of $22 million, or $1.17 per share, in fiscal year 1997. Annual revenues rose to $91.5 million from $70.6 million last year. CMG shares closed down nearly 7 percent today at 54.5625 ahead of the news. Curiously, like many Internet stocks including Lycos, the company's stock got a 27 percent bump yesterday when investors reacted to news that portals received increased traffic from the release of President Clinton's grand jury testimony video on the Web. CMG shares have traded as high as 91.75 and as low as 8.75 in the past 52 weeks.