Shares of online technology network ZDNet, (Nasdaq: ZDZ) which features e-commerce offerings such as auctions and shopping-comparison services, climbed 1-3/16 to 19-11/16 after the company released a strong earnings report on Thursday. ZDNet reported a profitable 1999 second quarter, with revenues increasing to $22.9 million, a 87 percent increase over the $12.3 million for the second quarter of 1998.
Net income for the second quarter of 1999 was $816,000 or 1 cent per share, compared to a loss of four cents per share in the second quarter of 1998. Despite Thursday’s gains, ZDNet, which is starting to look like a decent Internet value play, is trading near its lows of the year and about 35 points off its highs. This stock still looks like it has some upside.
Social Media
See all Social Media