Short Take: CNET posts third-quarter loss
CNET, publisher of News.com, reported a third-quarter net loss of $23.1 million, or 32 cents per share, excluding one-time gains and losses. For the third quarter of 1998, CNET reported pro forma net income of $1.7 million, or 2 cents per share. CNET attributed the loss to a marketing campaign that cost $25 million in the latest quarter. For the three-month period, CNET had revenues of $28.4 million, a 93 percent increase compared with the same period in 1998.
Scott Ard Former Editor in Chief, CNET
CNET former Editor in Chief Scott Ard has been a journalist for more than 20 years and an early tech adopter for even longer. Those two passions led him to editing one of the first tech sections for a daily newspaper in the mid 1990s, and to joining CNET part-time in 1996 and full-time a few years later.
CNET, publisher of News.com, reported a third-quarter net loss of $23.1
million, or 32 cents per share, excluding one-time gains and losses. For
the third quarter of 1998, CNET reported pro forma net income of $1.7
million, or 2 cents per share. CNET attributed the loss to a marketing
campaign that cost $25 million in the latest quarter. For the three-month
period, CNET had revenues of $28.4 million, a 93 percent increase compared
with the same period in 1998.
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