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European ISP, Wanadoo, reported today that Q1 revenues had slipped some 10 per cent compared to Q4 2000 despite doubling the number of active users over the same period.

Revenues for Q1 2001 sauntered in at E314.1 million (£195.4 million) down from E350.9 million (£218.3 million) at the end of last year.

Revenues from Net access accounted for a third of total revenue coming in at E110.2 million (£68.6 million) - up from E96.9 million (£60.3) in Q4.

More than half of revenues (E179.4 million) was generated from the outfit's directories business.

Revenue from e-commerce related sales fell from E7.4 million (£4.6 million) to E6.6 million (£4.11 million).

Wanadoo claims its Q1 performance "confirms its position as the leading Internet media and services enterprise in Europe" and puts it on target for having 10 subscribers by 2003.

The French ISP did not detail separately revenue from it recently acquired ISP, Freeserve. ®

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