Earnings: Freefalling Lycos Europe Plans Cost Cuts, Clock Ticking On Sale
PaidContent Nov 04 08
This one slipped through the cracks amid our crazy conference week last week… Lycos Europe has recorded another big loss and still we have no buyer in sight for the ailing portal. The site lost €17.1 million ($21.5 million) in the nine months to September 30; that's against a €44.1 million ($55.5 million) profit in the same period last year. The portal says "cost management will be further tightened in the fourth quarter" - and no wonder: overall income dipped, too, but only from €58.4 million ($73.4 million) to €46.9 million ($59 million), so running costs are proving a big drain. Full story...
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