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Lycos 3Q ahead of views
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May 14, 1998: 5:15 p.m. ET
Search engine firm reports loss of 15c excluding charge as revenue soars
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NEW YORK (CNNfn) - Lycos Inc., one of the six major Internet search engine companies, Thursday reported fiscal third-quarter results slightly ahead of expectations.
The Waltham, Mass.-based company reported an operating loss of $2.37 million, or 15 cents a share, in the quarter ended April 30, compared with a loss of $1.27 million, or 9 cents, in the year-ago quarter.
Analysts had a consensus estimated loss of 17 cents a share, according to First Call.
The latest results excluded about $89 million in one-time charges related to acquisitions of companies such as Tripod, a home-page building tool, and PlanetAll, which tracks business contacts.
Including the merger costs, the net loss totaled $91.5 million, or $5.90 a share, in the 1998 third quarter.
However, Lycos experienced substantial revenue growth as a result of marketing alliances with companies such as AT&T Corp. and CDnow Inc.
Revenue for the quarter totaled $15.1 million - 2-1/2 times the $5.85 million revenue in the comparable period from last year.
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Lycos
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