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Lycos revenues up, loss narrows

And it reckons it's the second most-visited portal

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Lycos has reported revenues of $24.8 million -- a 166 per cent jump on the same period last year -- but still posted a loss of $2.4 million for latest results, for Q1 1999. The loss, 6c per share before amortisation, one-time merger-related expenses and a gain on sale of equity securities, narrowly beat the 7c per share loss expected by Wall Street. On the same day that its shares hit a 52-week high, Lycos announced that 44.5 per cent of Net users now used its services, making it the second most-visited portal on the Web. "Once again, Lycos far exceeded Wall Street's estimates of every key metric," claimed Edward M Philip, Lycos' COO and CFO. In October, Lycos said it was going to buy Wired Digital for $83 million in stock and also signed a $22.5 million promotional deal with Fleet Bank. ®

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