CNET reports third-quarter loss of $6.2 million

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CNET, San Francisco, reported a net loss of $6.2 million, or 45 cents per share, for the third quarter ended Sept. 30, compared with a net loss of $4.7 million, or 35 cents per share, for the third quarter of 1996. Revenue for the quarter was $8.7 million, compared with revenue of $4.52 million for the third quarter of 1996. Halsey Minor, CNET chairman-CEO, attributed the higher-than-expected loss to high costs on the development of new services and lower than expected revenues.

Copyright October 1997, Crain Communications Inc.

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