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CompuServe expects loss

Published on .

CompuServe Corp., Columbus, Ohio, announced Tuesday that for the quarter ended July 31 shareholders would see a loss of 15 to 20 cents per share due to flat subscriber growth for its flagship service and development investments for WOW!. As of June 30, CompuServe had 3.4 million subscribers; WOW!, launched in March, had 91,000; and SPRYNET had 152,000. H&R Block, which spun off part of the service it owned in entirety earlier this year, has committed to spin-off its remaining 80.1 percent stake in CompuServe. CompuServe will pursue cost-cutting measures to bolster profitability. Also planned: the launch of WOW! for Teens and a subcription-based magazine bridging CD-ROM and the Internet.

Copyright July 1996 Crain Communications Inc.

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