Internet Market Close Report for 1998.01.20

ISDEX & Market Moves

  20-Jan-98 % change point change
ISDEX Average 108.86 4.19% 4.38
ISDEX Composite 875.94 3.96% 33.34
NASDAQ 1,590.14 1.74% 27.26
DJIA 7,873.12 1.54% 119.57

  • @Home (NASDAQ:ATHM) posts net loss for the fourth quarter ending December 31 of $11.8 million, or $0.10 per share. Results exclude a non-cash charge of $172.6 million relating to an agreement with Cablevision cable for distribution. With that charge, loss is $184.4 million, or $1.55 per share.

    4Q96 revenue was $0.5 million while loss was $9.0 million. 1997 total revenue reaches $7.4 million vs. $676k for all of 1996. Net loss for 1997 hits $219 million vs. $24.5 million in 1996. Expensive game. @Home passes 4.5 million yet shows only 50k subscribers. Waiting to explode? A lot of expectation here.

  • AOL (NYSE:AOL) reports it 11 millionth subscriber citing strong sales of sub-$1,000 PCs, which accounted for 40% of all PC sales this holiday season, as the driver.

  • Spyglass (NASDAQ:SPYG) posts $4.25 million first-quarter revenue ending December 31. vs. $3.88 million 1Q96. Of that, service revenues grow to 39% of all revenue, up from 22% 1Q96. Nesbitt Burns ups SPYG to “buy” from “neutral” and we think that the device market SPYG’s aimed at may finally be showing signs of fruition. Maybe a late 1998 story as the Web device world gets more awareness and understanding.

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