SportsLine.com Warns, to Restate Some Results

Sportsline plans to lower its reported financial results for the past two and a half years by a total of $8 million to correct an error in calculating a stock option expense.

It also said it would miss its revenue expectations for the rest of the year because of increased competition in the fantasy sports subscription market and a slower-than-expected recovery in online advertising.

Related:

SportsLine’s Losses Decline; Revenues Flat

SportsLine Sells Assets, Shares Rise

Comments have been disabled for this post