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Tech Industry

Short Take:CNET reports

CNET reported revenue of $8.31 million for the June quarter, up from $2.63 million for the second quarter of 1996. The company received a cash payment of $10 million in connection with the sale of its 50 percent stake in E! Online. The sale pushed CNET into the black for the quarter with profits of $5.02 million, or 34 cents per share, compared to a net loss of $4.32 million, or 47 cents per share for the second quarter of 1996. Without the sale, net loss was $4.95 million, or 37 cents per share.

CNET reported revenue of $8.31 million for the June quarter, up from $2.63 million for the second quarter of 1996. The company received a cash payment of $10 million in connection with the sale of its 50 percent stake in E! Online. The sale pushed CNET into the black for the quarter with profits of $5.02 million, or 34 cents per share, compared to a net loss of $4.32 million, or 47 cents per share for the second quarter of 1996. Without the sale, net loss was $4.95 million, or 37 cents per share.