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Infoseek Revenues Up, Losses Down

Infoseek Corporation said its 1998 first quarter revenues increased 131% to $14.3 million compared to revenues of $6.2 million for the first quarter of 1997.

The Sunnyvale, CA-based company also reported a $1.5 million net loss for the first quarter of 1998, or $0.05 per share, down from $4.1 million, or $0.16 per share for same period a year ago.

Infoseek (SEEK) was up 3 1/8 in early morning trading at 31 9/16 in response to the earnings news.

Traffic to the site also increased during the first quarter with page views growing 41% from December 1997, the company said. In March, not counting the views to the newly acquired WebChat Broadcasting System (WBS), Infoseek said it experienced a daily average of around 17.3 million page views. Daily page views in March including those to WBS came to approximately 22.3 million.

In an earnings statement released late yesterday, Infoseek cited the acquisition of WBS, continued traffic growth, new international partnerships, sponsor agreements with new channel partners, and software license sales, as key factors in the company's first quarter growth.

The company also cited industry recognition from Internet.com's Search Engine Watch which recognized Infoseek among competitors as the resource producing the most relevant results and most responsive customer service.



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