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CNET reports net income, stock split

Published on .

Computer network CNET, San Francisco, reported net income of $2.6 million, or 15 per share, for 1998 compared with a net loss of $24.7 million for 1997. Revenue was $56.4 million, up 68% over 1997. CNET credited its improved performance to the launch of Shopper.com, a commerce platform that was "an important new revenue stream for thenetwork."

Also, CNET reported a two-for-one stock split in the form of a stock dividend for common shareholders of record as of February 22, payable on March 8.

Copyright February 1999, Crain Communications Inc.

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