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CNet Hits High Note

The company doubles its profit but guides lower for the upcoming year.
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Updated from Feb. 6

Fourth-quarter profit more than doubled at

CNet Networks

(CNET) - Get Free Report

as revenue rose 20%, but the company's outlook for the first quarter and full fiscal year wasn't as rosy.

The online media company said Monday that earnings for the quarter ended Dec. 31 rose to $22.9 million, or 14 cents a share, from $9.2 million, or 6 cents a share, a year earlier.

Revenue rose to $107.4 million from $89.2 million a year earlier.

Excluding items, the company earned 15 cents a share in this year's quarter. The top- and bottom-line results were in line with current Thomson First Call estimates of earnings of 15 cents a share and revenue of $107.9 million.

CNet said its network of Internet properties grew by 13% to an average of 116.1 million unique monthly users during the fourth quarter, while average daily page views increased to more than 103.6 million during the fourth quarter, up 22% from the year-ago quarter.

For the first quarter now under way, CNet anticipates revenue of $83 million to $87 million and an earnings range of a loss of a penny a share to a profit of a penny a share. First Call was expecting the company to earn 3 cents a share on revenue of $91.2 million, however the company's new guidance excludes results from its Consumer Shopper magazine, which was sold earlier Monday.

For the full year, the company management expects revenue of $395 million to $407 million and earnings before stock-compensation expense of 32 cents to 39 cents a share, below First Call estimates of $419.1 million in revenue and earnings of 40 cents a share.

Following the announcement, shares of CNet slipped 13 cents, or 0.9%, to $13.72 in after-hours trading.