Summary:

Terra Lycos reported a sharp drop in first quarter sales, stirring doubts over its business model despite continued progress in slashing ope…

Terra Lycos reported a sharp drop in first quarter sales, stirring doubts over its business model despite continued progress in slashing operating losses. Sales tumbled to 115 million euros ($130.9 million), versus 154 million euros in the fourth quarter. It marked the seventh straight quarterly sales decline for Terra, a streak that defies the sector’s recent resurgence.

Terra said it had 3.3 million paying subscribers at the end of March, a 78 percent increase on the year.

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