CNET reports earnings
CNET reported improved fourth-quarter results bolstered in part by rising traffic and advertising revenues.
CNET reported a net loss of $4.25 million, or 32 cents per share, for the period ending December 31. That compares to a net loss of $2.6 million, or 29 cents a share, for the same period a year ago. The company's losses narrowed, however, in comparison with the previous quarter when it reported a $4.68 million loss.
Wall Street had expected the company to post an operating loss of 28 cents a share, according to First Call.
Revenues for the fourth quarter reached $6 million, up from $1.6 million a year ago. Advertising revenues from Internet sites grew 60 percent to $4.41 million while traffic rose 55 percent to 2.28 million average page views daily, compared with the previous quarter.
Revenues for the year reached $14.8 million, up from $3.5 million last year. CNET posted a $16.9 million net loss for the year compared with a loss of $8.6 million the previous year.