CyberCash (Nasdaq:CYCH) the well-known but struggling e-commerce payment processing company, reported strong revenue gains for the first quarter of 1999, but still remained in the red to the tune of $7.8 million (US$). Investors were encouraged by the company’s sales increase of approximately 300 percent over the same period last year, and CyberCash stock was on the upswing by midday trading. During the first quarter of 1999, CyberCash raised $15 million in private investment, raising its cash position as of March 31 to $19 million.
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News Roundup: CyberCash Loses $7.8 Million in Q1 1999
Posted by: James Hollander April 30, 1999 12:00 AMCyberCash (Nasdaq:CYCH) the well-known but struggling e-commerce payment processing company, reported strong revenue gains for the first quarter of 1999, but still remained in the red to the tune of $7.8 million (US$). Investors were encouraged by the company’s sales increase of approximately 300 percent over the same period last year, and CyberCash stock was on the upswing by midday trading. During the first quarter of 1999, CyberCash raised $15 million in private investment, raising its cash position as of March 31 to $19 million.