Terra Lycos’ Revenues Tumble
By Rafat Ali - Wed 07 May 2003 10:05 AM PST
Terra Lycos reported a sharp drop in first quarter sales, stirring doubts over its business model despite continued progress in slashing operating losses. Sales tumbled to 115 million euros ($130.9 million), versus 154 million euros in the fourth quarter. It marked the seventh straight quarterly sales decline for Terra, a streak that defies the sector’s recent resurgence.
Terra said it had 3.3 million paying subscribers at the end of March, a 78 percent increase on the year.
Posted in: Companies, Terra Lycos, Money, Earnings
