Infoseek Corp posted third quarter results that show the company narrowing its losses as its revenue continues to surge. The loss this time was $2.6m, down from $5.0m in the year-ago period, while revenue jumped 129% to $19.2m. For the nine-month period, the net loss was $5.7m on revenue up 126% at $50.7m, down from a loss of $21.9m last year. The results were in line with Wall Street expectations. The company recently revealed in a filing with the Securities and Exchange Commission that, as a direct result of its three-way deal with The Walt Disney Co and Starwave Corp announced earlier this year in which it takes control of Starwave, it would not reach profitability until 2002. Daily page usage rose 17% from the June quarter and page views rose 5.0% to 21.4 million. Views generated by Netscape Communications Corp’s Netcenter site continued their decline and accounted for just 12% of overall views. The company ended the quarter with 673 advertisers, flat with last quarter. Looking ahead, the company is projecting fourth-quarter revenue of between $26m and $28m, which factors in results for Starwave for just under half of the quarter. Expenses will be slightly higher due to the launch of the Go.com portal site, which will have an initial launch next month, with the full launch – with the integration of the rich media assets of Disney – scheduled for March. The charge for the Starwave acquisition will amount to $74.4m. Revenues for fiscal 1999 are currently expected to be in the range of $150m to $190m.
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