Lycos barely beats Street
Though the portal reports earnings that are 1 cent per share higher than analyst estimates, its shares hit a new 52-week high.
The company posted a loss of $2.4 million or 6 cents per share before amortization, one time merger-related expenses, and a gain on sale of equity securities. Lycos narrowly beat the 7-cent-per-share loss expected by analysts, according to First Call.
The company's revenues jumped to $24.8 million, a 166 percent increase from the same period last year and a 30 percent increase from the previous quarter.
The earnings report came on the same day that Lycos shares hit a new 52-week high. At one point during the day's trading, the stock hit 68.75, beating its previous record of 65.125.
Lycos also announced today that it extended its reach to 44.5 percent of Web users--or 27.8 million unique visitors--in October, making it the second most-visited portal.
Today's numbers underscore a quarter of considerable activity for Lycos. The company began promoting its "Lycos Network" strategy after it acquired WhoWhere in August, and then in October announced its intentions to acquire Wired Digital for $83 million in stock.
That same month, Lycos inked a $22.5 million promotional deal with Fleet Bank, and also entered into agreements with content sites such as Boston.com, CareerPath.com, iVillage, and Microsurf.
Through its various acquisitions, Lycos essentially purchased its audience boost. Going forward, the company plans to sell heftier advertising and e-commerce partnership packages across its network.