Lycos on Tuesday reported a narrower-than-expected loss as revenue from its sites more than doubled. In addition, Lycos declared a two-for-one stock split, the second this year.
After the market closed, the Waltham, Massachusetts, company reported a loss of US$13.3 million, or 31 cents per share compared to a loss of $22 million, or 71 cents, in the same quarter of last year.
See also: Lycos, USA Call Off Merger- - - - - -
Not including acquisition-related costs, the company beat Wall Street estimates by 1 cent, posting a loss of $1.02 million, or 2 cents per share. Wall Street had expected Lycos to report a per-share loss of 3 cents, according to a survey of 20 analysts by First Call.
Revenues for Lycos, which last week saw its planned merger with USA Networks unravel, surged 132 percent in the quarter to $35.1 million from $15.1 million in the quarter a year before.
Advertising accounted for $23.6 million of revenues, while e-commerce, licensing, and other sources accounted for $11.4 million, the company said.
"It was a rockin' quarter," said analyst Shaun Andrikopoulos of BT Alex. Brown in San Francisco.
Analyst Daniel King of LaSalle St. Securities in Chicago said that he had been looking for a loss of 2 cents per share and revenues of $31.2 million.
Lycos (LCOS) said that average daily page views rose during the quarter by 20 percent to more than 60 million.
The company's board also approved a two-for-one stock split, which Lycos said would be effective in late July.
Reuters contributed to this report.
