Short Take: CNET reports wider-than-expected loss

CNET: The Computer Network reported revenues of $10.3 million for the December quarter, a 71 percent increase over revenues of $6 million reported for the same quarter in 1996. Net loss was $8.7 million, or 62 cents a share, before a charge of $2 million or 14 cents a share for "unusual items." Analysts had expected a loss of 42 cents a share for the current quarter, during which CNET completed equity financing of $18 million.

Feb. 5, 1998 6:00 p.m. PT

reported revenues of $10.3 million for the December quarter, a 71 percent increase over revenues of $6 million reported for the same quarter in 1996. Net loss was $8.7 million, or 62 cents a share, before a charge of $2 million or 14 cents a share for "unusual items." Analysts had expected a loss of 42 cents a share for the current quarter, during which CNET completed equity financing of $18 million.