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LookSmart Q3 loss widens; to sell for $20.5 mln
November 7, 2007 / 9:55 PM / 10 years ago

LookSmart Q3 loss widens; to sell for $20.5 mln

Nov 7 (Reuters) - LookSmart Ltd LOOK.O, an online media and technology company, reported a wider-than-expected quarterly loss, hurt by continued volatility in ad spend among its larger volume advertisers, and impairment charges.

The company also said it will sell its property to CNET Networks Inc (CNET.O) for about $20.5 million in cash.

LookSmart posted a third-quarter loss of 19 cents a share, on revenue of $12.6 million. This compares with a loss of 17 cents per share on revenue of $12.2 million. Analysts were looking for a loss of 12 cents per share on revenue of $13.4 million. (Reporting by Sreerupa Mitra in Bangalore; Editing by Gopakumar Warrier)

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