Ad Income Helps Push Lycos Revenues
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Lycos Inc. said increased ad revenues helped push second quarter (ended Jan. 31) revenues to $12.6 million, representing an increase of 35% over the previous quarter and a 152% increase over the same period a year ago.
The company reported net income of $301,000, representing $0.02 per share for the quarter, compared to net income of $107,000 or $0.01 per share for the previous quarter ended October 31, 1997. Lycos was also cash flow positive for the third consecutive quarter.
"Advertising revenues grew by nearly 50% as we continued to attract hundreds of household brands, increasing the number of advertisers on the Lycos site to over 620 in the quarter. Furthermore, the addition of several key strategic electronic commerce partners (including cybermeals Inc. and AutoConnect) helped grow deferred revenues to over $20 million during the quarter," said Edward M. Philip, Lycos' chief financial officer.
On February 3, Lycos announced the acquisition of Internet community Tripod Inc. in a deal valued at approximately $58 million in stock.