CNet Falls 13.4% on Negative Outlook
CNet
(CNET)
was down 13.4% in preopen
Island
trading.
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The Internet media company late Tuesday met the Street's fourth-quarter earnings estimate of 9 cents, improving from a year-earlier 21-cent loss. But the company's actual result was a loss of $3.12 per share after charges and a hefty write-down for its investment in
NBC Internet
undefined
.
CNet also fell shy of revenue projections and
forecast a steep drop in revenue from the fourth quarter to the first.
