Stock Watch: HotJobs Jumps on Rosy Forecast

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Stock Watch: HotJobs Jumps on Rosy Forecast

By Nora Macaluso
E-Commerce Times
03/31/00 12:00 AM PT

HotJobs.com (Nasdaq: HOTJ) rose 3 31/32 in morning trading Friday, reaching 29 1/8. After the close Thursday, the online employment exchange said its subscriber base has grown 50 percent since the end of 1999, and now includes more than 5,000 member companies.

As a result, the company said, first-quarter revenue will be "at least 10 percent" above the $9.85 million estimated by analysts. Forecasts of a 44 cent-per-share loss for the quarter, though, will not be beaten by "more than a minimal amount," HotJobs said.

"As a result of increased revenue, HotJobs.com has been able to reinvest in its core business… in order to meet the needs of its rapid growth," said President and Chief Executive Officer Richard Johnson.

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