RUMOR MILL
Wednesday, May 3, 2000
TWENTY-THIRD VERSE,
SAME AS THE FIRST
CDnow Reports First Quarter Losses Up,
Oh Yeah, And Revenues Were Up Too
Oh Yeah, And Revenues Were Up Too
In what is becoming an all-too familiar song sung by most Internet sites, CDnow Inc. reported first quarter 2000 losses and revenues up.
CDnow reported its net loss for the quarter had almost doubled for the same period last year—$37.8 million, or $1.23 per share, from a loss of $19.1 million, or 96 cents per share, in the first quarter 1999. The net loss was $28.2 million, or 92 cents per share—four cents per share higher than what Wall Street analysts were forecasting.
However, revenues at the beleaguered e-tailer also increased nearly two-fold. CDnow reported revenues of $43.6 million, up from $21.9 million a year ago.
Shares in CDnow closed ahead of the news down 9.5% at $4.20.
Whether you view CDnow's glass as half-full or half-empty says a lot about you. Well, that and the bumps on your head.
HIPGNOSIS BOARD APPROVES UPPED BLACKSTONE BID
But it ain't over till it's over. (4/29a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)rumor mail
