Infoseek sees losses improve
Set to get worse next quarter though
The fourth biggest Internet portal, Infoseek, reported a net loss of $18.2 million for the first fiscal quarter of 1999 despite announcing record revenues of $30.2 million for the same period. According to some reports, the loss was less than expected although Infoseek added that while it expected revenue to increase "modestly" in the next quarter, it warned that its net loss would also increase by at least $10 million from the first quarter's levels. But Harry Motro, Infoseek's president and CEO, is optimistic about the future. "Looking ahead, we expect that our operating profits will begin to benefit from our infrastructure and marketing investments in the second half of 1999," he said. Last November, Infoseek and the Walt Disney Company formed a strategic alliance to create the Go Network. The company claims that this has helped boost its status and help develop its branding on the Web. "At the time of the launch the Go Network had more than eight million registered users, 21 million viewers and 36 per cent reach," claimed Motro. "We are extremely encouraged by the initial reception for Go Network from users, the media and advertisers," he said. ®
Sponsored: RAID: End of an era?