The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App

Earnings: Answers Q1 Revs Up Mildly; Decline At Offset By Strength At WikiAnswers

This story was written by Joseph Weisenthal.
Answers Corp (NSDQ: ANSW). has announced revenue of $3.03 million, a 2 percent year-over-year increase from $2.96 million. Net loss spiked to $3.6 million from $303,000, however this quarter included $2.5 million in fees related to the failed attempt to acquire Lexico. Costs were up in other categories as well. The stability of the company's top line masks major volatility at its two major units: Traffic to the core service fell significantly, resulting in a 19 percent year-over-year decline in revenue. On the other hand, WikiAnswers is coming on strong, with revenue up 68 percent to $1.18 million since Q4. For the coming quarter, revenue is seen down to a range of $2.8-$3.0 million.

Release |