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CNET Networks posts 8% revenue gain

Published on .

San Francisco--As Internet marketing continues to gain momentum, CNET Networks reported Thursday that revenue for the fourth quarter increased 8% to $73.5 million, compared with $67.8 million for the year-earlier period.

The company's fourth-quarter operating income was $8.1 million, compared with an operating loss of $12.4 million during fourth quarter 2002.

Revenue for all 2003 totaled $246.2 million, compared with $237.0 million for 2002. The company's operating loss for 2003 was $20.8 million, compared with an operating loss of $381.3 million for 2002.

CNET Networks' operating income before depreciation and amortization was $2.8 million for 2003. That compares with an operating loss before depreciation, amortization and asset impairment of $30.4 million for 2002.

"Our business continued to strengthen throughout the year, culminating in a fourth quarter where we saw strong user and page growth, Internet revenue growth of 16% and earnings per share of $0.05," Shelby Bonnie, CNET Networks chairman-CEO, said in a statement.

--Sean Callahan

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