Infoseek reports a hike in net losses in second quarter

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The search engine Infoseek Corp. reported net losses of $11.9 million in the second quarter that ended June 30, up from $4.7 million in the first quarter. Meanwhile, its revenue rose in the second quarter to a reported $7.7 million, up from $3.3 million in the second quarter of 1996.

The second-quarter reports include a $7.4 million restructuring charge, which was associated with management changes and discontinuing certain business initiatives, Infoseek said. Excluding the restructuring charge, the net loss for the quarter was $4.6 million.

Copyright July 1997, Crain Communications Inc.

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