Ziff-Davis Loss Widens Amid Ad Decline

Ziff-Davis Inc., the computer magazine publisher and trade show producer, said its losses more than quadrupled in the second quarter as weakened technology companies cut advertising budgets. New York-based Ziff-Davis posted a net loss of $76.6 million in the quarter, compared with a loss of $17.4 million a year ago. The loss was 77 cents a share versus 17 cents a year ago. Wall Street analysts had expected a loss of 2 cents a share in the latest quarter, according to First Call Corp. The results were also affected as the company, which completed an initial public offering in May, paid $64.5 million in income taxes in the quarter, compared with a tax benefit of $328,000 a year ago. Revenue totaled $276.5 million for the period, compared with $301.3 million a year ago. Ziff-Davis shares fell $1.69 to close at $10 on the New York Stock Exchange.