CNet (CNET) - Get Report was down 17.5% in preopen Island trading after it posted a first-quarter loss of $18.2 million, or 13 cents per share, late Tuesday, wider than the Street's consensus of a 10-cent loss and the year-ago 2-cent loss.

The technology news site said it was hurt by the downturn in online advertising. The company projected a loss of $12 million to $20 million for the second quarter, and a full-year loss of $29 million to $55 million.