Blog Post

Earnings: Lycos Europe Hit By Fewer Ads, Helped By Prague Portal Sale

Stay on Top of Enterprise Technology Trends

Get updates impacting your industry from our GigaOm Research Community
Join the Community!

An investment sale helped Lycos Europe show a net profit for the first half of 2007 but operations lost EUR 7.6 million ($10.38 million). Lycos Europe, the Netherlands-based web portal part-owned by Bertelsmannn and Telefonica (separate from Lycos USA), blamed “decreasing advertising revenues, additional marketing initiatives.” The company recorded a net profit of EUR 48.7 million ($66.5 million) after a EUR 64.8 million ($88.5 million) transaction gain from offloading shares in Czech portal Seznam.cz and a EUR 19.2 million ($26 million) impairment loss thanks to decline in use of its Fireball German search engine. Earlier this month, Lycos Europe spent $5.2 million to renew its trademark deal with Lycos Inc.
Earnings release