Netscape profit beats views
|
|
October 21, 1997: 5:06 p.m. ET
Browser company's quarterly income rises 44 percent from a year earlier
|
NEW YORK (CNNfn) - Netscape Communications Corp. said Tuesday its third-quarter profits came in near Wall Street's expectations due in part to a 50 percent rise in revenue.
The maker of the leading Internet browser software said net income rose to 13 cents a share in the third quarter, up 44 percent from 9 cents a share in the same period last year. Analysts had been expecting 12 cents a share.
Revenues, which some analysts emphasize is more pertinent for Mountain View, Calif.-based company, rose to $150.1 million from $100 million a year earlier.
Ahead of the earnings report, shares of Netscape (NSCP) inched 9/16 higher to close at 39-13/16 on the Nasdaq. The stock eased to 39-1/4 in after-hours trading.
The earnings announcement comes one day after the Justice Department charged Netscape's rival, Microsoft, with monopolistic practices in the browser market. Netscape expressed support for the government investigation.
|
|
|
|
Netscape
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
|
|