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Excite posts profit and loss

Did it make money or not? Excite wants it both ways

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Excite has posted its first profitable quarter. The company announced a profit of $1.3 million on revenues of $44 million for Q3 1998. That said, the Internet company also made a cash payment to Netscape under the terms of the two operations' agreement to co-operate on an new Net search system. The payment dragged Excite's results into an effective loss of $6.8 million. That's more in keeping with the company's previous results, which saw it record an $80 million loss on revenue of $33 million. That too featured a payment to Netscape, of $56.8 million, some of which was brought forward into the third quarter because the SEC objected to such a large write-off. Further charges relating to the Netscape deal will continue to impact the company by $7.6 million every quarter until after April 2000, Excite said. ® Click for more stories

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