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CMGI Loss Less Than Expected

September 22, 2000|Reuters

CMGI Inc., whose investments and operations span 70 Internet companies, posted a much smaller loss for its fiscal fourth quarter than analysts expected. CMGI posted a loss of $633.7 million, or 49 cents a share, as revenue skyrocketed to $377.2 million from $56 million. The company, which is consolidating its operations, had been expected to post a loss of $2.45 a share. In the year-earlier quarter, CMGI reported earnings of $452.7 million, or $2.37 a share, including a one-time gain of $661 million from the sale of GeoCities to Yahoo Inc. The stock closed unchanged at $36.44 on Nasdaq before CMGI released its results. Separately, CMGI said it plans to take its 82%-owned AltaVista search engine public by the end of October.

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