Powered largely by an investment in community site GeoCities, Internet incubator CMGI (Nasdaq: CMGI) handily exceeded analysts’ expectations yesterday by reporting record net income of $452.7 million (US$) or $4.74 per share for the fourth quarter. It had widely been expected that the company would report income of only $4.08 per share.
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CMGI Blasts Past Earnings Estimate
Posted by: Mary Hillebrand September 28, 1999 12:00 AMPowered largely by an investment in community site GeoCities, Internet incubator CMGI (Nasdaq: CMGI) handily exceeded analysts’ expectations yesterday by reporting record net income of $452.7 million (US$) or $4.74 per share for the fourth quarter. It had widely been expected that the company would report income of only $4.08 per share.