Internet Market Close Report for 1998.06.02

Footnote-We recall June 11, 1997 when Intuit paid Excite $40 million to “sponsor” its financial channel and how the market balked. Terms in the Intuit-xcite deal: Intuit paid $13.50 per share for 2.9 million XCIT shares, or about 20% of XCIT. XCIT closes at $56.625 today, already giving Intuit a healthy return on its investment.

Used to be Mozilla (Microsoft killer) was Netscape’s mascot. Now we suggest an alternative based on its lower profile-Yahooilla, as Netscape goes for the top slot against its former ally.

Its enterprise software also is far from dead, consider that the division revenue hit $96.1 million for the three months ending April 30, 1998, vs. $91.4 million for the three months ending December 31, 1997. Revenue from Web site Netscape Netcenter reached $31.1 million vs. $21.3 million during that same period.

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