Lycos barely beat Wall Street estimates yesterday with its first quarter results.
The Internet hub posted a loss of $24 million or six cents per share before merger and acquisitions-related charges and a gain on a sale of equity securities, for the period ending 31 October. Analysts had predicted a loss of seven cents per share.
Revenues for the quarter were $24.8 million, representing an increase of 30 per cent over the previous quarter ending 31 July and a 166 per cent increase over last year.
During the quarter Lycos acquired Net directory Whowhere and the Wired Digital-owned sites and brought them under the Lycos Network umbrella.
Traffic on the Lycos Network grew 51 per cent to 36 million page views per day in October, up from 24 million page views per day in July. According to the company, the Lycos Network now reaches 44.5 per cent of Web users, or 27.8 million unique visitors, making it the second most visited portal.
Lycos also announced it had formed an alliance with online designer outlet store Bluefly.com. Under the terms of the deal Bluefly?s range of discounted clothing will be accessible throughout the Lycos Network of sites.
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