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USA Networks Beats Loss Estimate

July 27, 2000|From Bloomberg News

USA Networks Inc., Hollywood mogul Barry Diller's media and electronic-commerce company, said its second-quarter loss was smaller than expected, helped by higher advertising sales at its cable-TV networks.

The loss from operations narrowed to $21.8 million, or 7 cents a share, from $27.9 million, or 8 cents, in the year-ago period, after adjustment for acquisitions and other items. The firm had been expected to lose 15 cents a share, according to First Call/Thomson Financial.

Revenue rose 24% to $1.1 billion from $889.4 million.

USA Networks shares fell 38 cents to close at $21.56 Wednesday.

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