CyberCash (Nasdaq: CYCH), an Internet payment software company, said Thursday that it topped estimates with a first quarter loss of $8.6 million, or 35 cents a share.
First Call Corp., an earnings tracking firm, predicted a loss of 39 cents a share. Revenue for the quarter was $6 million, up 31 percent from a year ago.
The company said quarterly transaction volume climbed to a record 24.8 million and its online merchant base reached 22,500.
CyberCash said in a statement it was on target for operating profits, but didn't get specific. According to First Call, the company is expected to report losses for at least fiscal 2001.
According to Hoover's profile, CyberCash competes with CheckFree (Nasdaq: CKFR), which announced a major partnership with Bank of America Thursday, and Open Market (Nasdaq: OMKT).
Among other earnings Thursday:
The results exclude non-cash charges related to stock compensation. Revenue surged 187 percent from the first quarter a year ago. TheStreet.com added that the company had more than $107 million in cash. In terms of traffic, the company reported 41 million average monthly page views in the quarter and 3.6 million average unique users.
In a separate announcement, TheStreet.com said it acquired BiGFiSH Management, Inc., a conference and event production firm. BiGFiSH will create investment conferences under TheStreet.com brand. Terms weren't disclosed. The company will also publish an investing book with Doubleday.
First Call predicted a loss of 18 cents a share for the quarter.
NetSpeak narrowed its loss from a year ago as sales jumped 42 percent from the fourth quarter. The company said its relationship with Cisco Systems (Nasdaq: CSCO) is beginning to boost results.
The company also said it had $48.8 million in cash and cash equivalents as of March 31.
In the quarter, MusicMaker.com burned through about $11 million in cash because of music acquisition costs, facilities expansion and equipment purchase, consulting fees, and normal operating expenses.>