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Internet Market Close Report for 1998.07.22

Written By
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Steve Harmon
Steve Harmon
Jul 22, 1998
































 
22-Jul-98
point change
% change

ISDEX
169.70
1.49
0.89%

ISDEX Price Wtd.
1,942.81
23.81
1.24%

NASDAQ
1,969.75
-9.39
-0.47%

DJIA
9,128.91
-61.28
-0.67%

  • Amazon.com (NASDAQ:AMZN) reports better-than-expected results for second quarter: $116 million vs. $27.9 million 2Q97. Loss before charges was narrower at $0.33 loss per share than First Call consensus at $0.44 loss per share. With charges related to its acquisition of movie and book sites loss per share was $0.44.

  • Mindspring (NASDAQ:MSPG) posts $0.24 earnings per share vs. expected $0.18 EPS, giving credibility to the earnings believers that Internet firms are businesses after all. Revenue reaches $25.1 million vs. $11.6 million 2Q97. This Internet service provider has been on an aggressive roll, combined internal and external growth into a hot consumer ISP.

  • CNET (NASDAQ:CNWK) squeaks out $0.02 earnings per share vs. an expected loss of $0.21 per share, far beating First Call’s mis-call. Revenue jumps 57% to $13.1 million. Having Snap! Web guide off its back will also help future results we believe.

  • RealNetworks (NASDAQ:RNWK) reports $15.1 million revenue for second quarter, up 115% vs. 2Q97. Net loss for the quarter was $2.1 million, or $0.07) per share vs. net loss of $2.7 million, or $0.12 per share on a pro-forma basis 2Q97. We spoke with Real’s president Bruce Jacobsen yesterday about the results and we are confident that Real has its head on straight for the future. More on this as it develops.
    Tomorrow: Earnings and second quarter results roundup…a must see 2Q review.

    Steve Harmon was named one of the ‘Best
    of Wall Street’ by CBS Marketwatch.


    “I’m a huge fan of Steve Harmon’s crack analysis!” – Kleiner Perkins’ John Doerr



    Steve Harmon’s Internet Stock Report. If the Internet’s your business this is the bottom line.Tell a friend about it! Point them to this Web address! Sharing is good!

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    Steve Harmon

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