Internet Market Close Report for 1998.01.21
Steve Harmon | January 21, 1998
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ISDEX & Market Moves
USWeb (NASDAQ:USWB) reports $10.6 million sales on $19 million loss for fourth quarter. Full year results reach $19.3 million sales and $53.3 million loss. USWeb says includes $11.1 million unusual charge for 4Q and $29.6 million for full year. We still think it's early in the turnkey Web solution game and that USWeb may have a lot longer to go to reach critical awareness.
@Home (NASDAQ:ATHM) reports 4Q sales of $3.7 million vs. $535k 4Q96; Full-year sales are $7.4 million vs. $676k. Losses hit $184.4 million for 4Q and $219.1 million for 1997. Looks like a lot of bleeding here but most of this relates to an agreement with Cablevision for distribution. $172.6 million worth.
AOL (NYSE:AOL) agrees to acquire privately-held PLS, an electronic library search, index engine/tool. Terms undisclosed but we estimate the stock deal at $25 million to $50 million. The buy gives PLS much deeper pockets to draw from to develop its technology and maintain its customer base including AOL, Dow Jones, AT&T, The Washington Post, USA Today, and Bertelsmann AG.
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