FRAMINGHAM (04/27/2000) - CBS Corp. Tuesday attributed a first-quarter net loss of $38 million, or 5 cents per share, to $75 million it invested in its Internet companies and operations. Even so, the company beat Wall Street estimates of a loss of 7 cents per share.
CBS is a significant investor in CBS.MarketWatch.com, as well as SportsLine.com, Hollywood.com, Switchboard.com and other properties. Noncash losses on the operations include "multiyear advertising and promotion" investments, the company reported.
The broadcasting company said it posted record revenue of $2.4 billion for the quarter ending March 31, up from $1.8 billion for the same period a year ago, thanks to its television and Infinity Broadcasting Corp. operations.
CBS's network competitors NBC and ABC have also seen significant drops in stock prices of their respective Internet divisions, NBCi and Go.com.
CBS President Mel Karmazin said in a statement that CBS would maintain a methodical approach to its Internet business model and that it currently has no plans to spin off the Internet companies as independent entities.
On Monday, NBC announced a pro forma net loss of $37.4 million, or 67 cents per share, for the first quarter of 2000, compared with a pro forma net loss of $50.9 million, or $1.63 per share, for the fourth quarter of 1999.
Read up on the latest ideas and technologies from companies that sell hardware, software and services. CRM your salespeople will love
Taking On Demand CRM Integration to the Next Level
Delivering the Power of Choice with Microsoft Dynamics CRM
Gaining Competitive Advantage Through Enterprise Planning
Solve Exchange Mailbox Storage Issues Once and for All
Making the Business Case for IT Consolidation
IT Service Management Needs and Adoption Trends: An Analysis of a Global Survey of IT Executives
Everything you need to know about email and web security (but were afraid to ask)
Zones provide focussed content from Computerworld and leading technology partners.
Discover how SOA can create smarter outcomes for your business.
Attend and learn:
- How SOA is helping leading companies to become more agile
- Where you should be applying SOA processes in your company
- The top SOA implementation mistakes to avoid
Click here for more information.
- +
Computerworld Live Podcast #98: The Future of Datacentre IP 18/12/2008 10:33:00
CW Live speaks withLin Nease, Director of Emerging Business for HP ProCurve, to discuss the future of networks, including the effect of IP-based storage on datacentres, new capacity requirements generated by the use of 10Gb Ethernet, and how an efficient network design can slash energy and cooling costs, and help enterprises build a "green" image. - +
Computerworld Live Podcast #97: The Future of Enterprise Networking 25/07/2008 09:45:36
This week CW Live chats with Mark Thompson, global sales and marketing manager for HP ProCurve, on the future of the enterprise networking. Mark discusses the trends we can expect to see in the near future and how the right infrastructure can ensure your enterprise network is secure. - +
Computerworld Live Podcast #96: Security at the Edge 11/06/2008 09:22:22
CW Live speaks with Amol Mitra, HP ProCurve Director of Marketing for Asia Pacific and Japan. Today's topic: how enterprises are starting to shift away from simply controlling security via server logins, firewalls and moving to more adaptive security frameworks. - +
Data Management Edition #10: Multi-Petascale Systems 02/05/2008 09:12:33
This week we look at sustainability and the development of multicore technologies to build multi-petascale systems. - +
IT Security Edition #11: How to poison the Storm botnet 01/05/2008 08:51:55
This week CW Live presents a case study on how to poison the notorious Storm botnet . Plus we take a look at Cisco's plans for Ironport.
IT industry veteran advises caution on outsourcing selection in light of Satyam problems 2009-01-09 21:45:00+11
F-Secure Warns About a Worm Affecting Corporate Networks 2009-01-08 16:42:00+11
Research software developer appoints Susan Dart to new Business Development Director role 2009-01-08 09:08:00+11
Research software developer appoints Susan Dart to new Business Development Director role 2009-01-08 09:08:00+11
Anyware Introduce Two Powerful PCI TV Tuner Cards with S5 Power Up and Windows Media Center Remote 2009-01-07 17:30:00+11
Making the Business Case for IT Consolidation
IT executives face the need to improve service delivery with limited resource increases. Two common strategies for achieving this are network and systems management tools and datacenter consolidation. Read on to discover how you can make a strong business case for IT Consolidation.
