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CNet posts wider third-quarter loss

Published on .

San Francisco--CNet Networks Inc. posted a much wider than expected net loss for the third quarter, as the company recorded more than $1 billion in charges. CNet lost $1.37 billion, or $9.98 a share, compared with a net loss of $43.6 million, or 50 cents a share, a year earlier. Revenue rose 23% to $69.3 million, from $56.4 million a year earlier. The net loss in the latest quarter included a $1.08 billion in acquisition-related expenses, "integration" charges of $28.7 million, a $59 million write-down of privately held investments and extraordinary interest expense of $6.3 million. The year-earlier loss included $67.9 million in acquisition-related expenses.
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