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MarketWatch posts 4Q loss
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February 10, 1999: 6:16 p.m. ET
Web-based financial news service sees growth in its revenue, traffic
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NEW YORK (CNNfn) - MarketWatch.com Inc., the online financial news provider whose initial public offering skyrocketed last month, reported a fourth-quarter net loss of 47 cents per share.
Despite logging $4.2 million in net losses, Marketwatch.com (MKTW) said its $2.5 million in revenue represented a 41-percent increase over third-quarter levels.
The company runs the cbs.marketwatch.com financial news Web site. Much of its loss stemmed from non-cash charges for $2.1 million in network advertising and promotion contributed by CBS Corp. (CBS).
MarketWatch.com also said it recorded 160 million page views in the fourth quarter, a 29-percent increase from third-quarter figures.
"We are extremely pleased with our fourth quarter results, which exceeded our expectations," said Larry Kramer, MarketWatch.com president and chief executive officer. "We continue to see sharp increases in the number of users to the site and the number of pages read, and an even larger percentage increase in our revenue."
In mid-January, MarketWatch.com soared 474 percent in its first day of trading, representing the second most successful IPO on a percentage basis.
For the full year 1998, MarketWatch.com reported a loss of $12.4 million, or $1.38 per share, on $7 million in revenue.
MarketWatch.com competes with several online financial news sites, including CNNfn.
MarketWatch.com shares gained 2-1/8 to close at 65-1/2 in Wednesday trade. 
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