Online technology news company CNET Networks Inc. posted a first-quarter loss and had revenues that were below analyst estimates, according to an AP story.
The AP story stated, “For the quarter ended March 31, CNet posted a loss of $6.1 million, or 4 cents per share, compared with a loss of $9.1 million, or 6 cents per share, for the same quarter in 2007.
“The company’s loss from continuing operations narrowed to $6.1 million, or 4 cents per share, from $8.3 million, or 5 cents per share, in the year-ago period.
“Excluding one-time gains and charges, including stock-compensation expenses, the company posted an adjusted loss from continuing operations of $4.3 million, or 3 cents per share, compared with an adjusted profit from continuing operations of $500,000 for the first quarter of 2007.
“Revenue rose 2.6 percent to $91.4 million from $89.1 million in the year-ago period.
“Analysts polled by Thomson Financial expected a loss from continuing operations of 4 cents per share, including stock-option expenses, on $93.5 million in revenue.”
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