Medscape's 3Q results boost shares

Medscape Inc. (Nasdaq: MSCP) picked up 1 1/8, or 12 percent, to 10 7/16 Wednesday after the online health information provider topped Street estimates in its third quarter.

In the quarter, Medscape lost $7.8 million, or 41 cents a share, on sales of $2.2 million.

First Call consensus expected it to lose 46 cents a share in the quarter.

The $2.2 million in sales represents a 361 percent improvement from the year-ago quarter when it lost $1.1 million, or 35 cents a share, on sales of $480,000.

In the quarter, Medscape grew its membership base to 1.4 million users, up 78 percent versus the year-ago quarter and 20 percent from the second quarter.

Page views jumped 93 percent from the same time last year to 29 million and up 35 percent from the 21.5 million page views it recorded in the second quarter.