Earnings: Infospace Revs Up 18 Percent; Loss Deepens On Auction Rate Woes
This story was written by Joseph Weisenthal.
The freeze-up in the auction rate securities market pops up again, as Infospace says its Q1 earnings were hit by a $6.7 million charge related to this market. The online search and information provider said it lost $2.8 million ($.08 per share) in the quarter, compared to a loss of $.5 million ($.02 per diluted share) a year ago. Revenue grew in the quarter to $42.2 million, an 18 percent increase from last year. The new quarter marks a total absence of the company's wireless content business. At its content and distribution unit, revenue was up 46.9 percent to $21.8 million.
By Joseph Weisenthal