Earnings: CNET Posts Slim Q1 Loss; Reduces Forecast

CNET Networks posted a Q1 loss on higher sales, yet the company chopped its full-year profit forecast mostly due to the expensing of employee stock options. Net losses came in at $1.1 million compared to $383,000, or break-even on a per-share basis, for the same period last year. Revenue for the period rose 17% to $83.4 million compared to $71.2 million last year. The results were shy of analysts expectations of $85.7 million in sales.
For Q2, CNET forecast a profit in a range $900,000 to $4.4 million The company sees revenue in a range of $88.5 to $92 million.
More details in the earnings release here.

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