Earnings: Answers.com's Q2 Revenues Up, Losses Narrow; Laying Off 12 Percent of Staff

Answers.com (Nasdaq: ANSW), the online reference site which is in the process of buying Dictionary.com parent for $100 million, has reported its Q2 numbers: Q2 revenues were $2.81 million, at the low end of original guidance, but up 86 percent compared to the same period in 2006. Net loss was $1.24 million, compared to $2.94 million in the year-ago quarter. Its user-gen site WikiAnswers contributed $177K in Q2, up over 50 percent from Q1, the company said.

Earlier this month the company disclosed that its traffic dropped about 28 percent in end of July, after Google changed its search algorithm…the site is heavily dependent on Google for search-related traffic, and this would also mean serious impacts on its revenues and stock price. The company is also laying off about 12 percent of its workforce, in an attempt “toward returning to Non-GAAP profitability in Q4 of this year.” More info in release.

From the conference call: Also leaving, Jeff Cutler, company’s Chief Revenue Officer for the past 2.5 years, the company announced.

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