Internet portal company Excite has reported narrower losses with its year end results citing increased traffic, users and advertising revenues.
The company, which was acquired by At Home this week, (see Newswire 18 January) said net loss for 1998 was $37 million, or 78 cents per share, compared with a loss of $41.4 million, or #1.47 per share for 1997. This included depreciation of a deal with Netscape.
Revenue for the year was 154.1 million a huge jump from 1997 when the company generated 54.1 million.
Traffic to the Excite Network rose to 58 million page views per day in December, an increase of 15 per cent over September. The number of registered users increased by approximately 40 per cent from the previous quarter to reach 20 million.
In the quarter ended 31 December, Excite lost $5.8 million, or 11 cents per share, compared to a loss of $13 million, or 39 cents per share, in the fourth quarter of 1997.
Excite said revenue was $54.1 million for the quarter, an increase of 163 per cent from $20.5 million over the same quarter last year and equal to the company?s entire revenue for 1997.
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