CNET Disappoints on Results

CNET Networks reported a quarterly loss and gave a 2004 revenue outlook slightly below analysts’ estimates…its revenues rose slightly to $57.7 million from $56.3 million in last year’s third quarter. The consensus analyst estimate in the latest quarter was $58.3 million. It also had a loss of $5.8 million, compared to a loss of $307.2 million last year.

CNET CEO Shelby Bonnie said the company expected growth in the fourth quarter due to seasonal factors and believed operating margins would improve as CNET lowers operating costs.

For more, read the company release.

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