CNET boosts revenues, trims loss

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San Francisco--Showing improvement despite a difficult tech advertising market, CNET Networks Inc. Wednesday reported that first-quarter revenue increased 2% to $56.6 million, compared with the same quarter last year.

The company trimmed its operating loss before depreciation or amortization to $7.4 million in the first quarter of 2003 from a loss of $15.0 million a year earlier.

The net loss for the first quarter was $15.8 million, compared with a net loss of $31.1 million a year earlier.

“Our ability to increase revenues year-over-year indicates some stabilization in the technology and broader advertising markets,” said Shelby Bonnie, CNET Networks’ chairman-CEO.

--Sean Callahan

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