Speeding Up in a Slowdown
Revenue growth for Internet companies is expected to slow this year after a phenomenal 1999, according to a study by data tracker IBES International summarized Tuesday in a report titled “Reality Check.com.” The good news: fiscal 2000 revenue projections for many companies in the hand-picked portfolio of 25 dot-coms have risen sharply in the last three months, said IBES equity strategist Joseph S. Kalinowski, including question-and-answer site Ask Jeeves and direct marketer MyPoints.com. And many of the companies are still expected to post year-over-year revenue gains of more than 100%. Although rising revenue is a good sign, IBES notes that “the bottom line remains bleak” for most of the companies--which may help explain why the portfolio has shrunk 44% year-to-date in total market value.
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3-mo. % chg Est. ’00 Latest Ticker Tuesday in est. ’00 revenue est. Company symbol close revenue growth ’00 EPS Ask Jeeves ASKJ $23.88 +36.3% +369.7% --$1.89 MyPoints.com MYPT 11.50 +33.0 +208.7 --1.43 Internet.com INTM 19.88 +28.0 +185.9 +0.05 HotJobs.com HOTJ 10.94 +25.4 +180.6 --1.29 Priceline.com PCLN 44.06 +21.9 +179.2 --0.11 Drugstore.com DSCM 7.63 +18.7 +214.1 --3.85 Mail.com MAIL 7.19 +17.5 +372.1 --2.00 Webvan Group WBVN 6.00 +17.5 +1,076.3 --0.72 Internet Pictures IPIX 12.63 +16.4 +1,503.2 --1.53 HomeStore.com HOMS 26.00 +15.7 +158.9 --0.30 DoubleClick DCLK 51.69 +12.9 +129.5 --0.05 InfoSpace.com INSP 49.75 +11.6 +166.3 --0.12 Amazon.com AMZN 50.56 +11.4 +73.3 --1.26 Yahoo YHOO 135.06 +7.7 +75.0 +0.44 SciQuest.com SQST 10.13 +7.0 +15,031.3 --1.43 Ebay EBAY 71.81 +6.3 +80.4 +0.19 Garden.com GDEN 3.41 +6.3 +177.9 --2.31 About.com BOUT 44.00 +5.1 +246.9 --1.27 MP3.com MPPP 11.63 +3.9 +298.4 --0.49 SportsLine.com SPLN 14.25 +3.0 +68.1 --2.67 Promotions.com PRMO 5.72 +1.8 +182.4 --2.43 CMGI CMGI 55.13 --0.1 +331.6 --4.38 Excite@Home ATHM 19.56 --3.1 +119.9 --0.27 Drkoop.com KOOP 2.72 --3.3 +401.4 --1.70 Egghead.com EGGS 3.38 --4.4 +38.9 --1.90
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EPS=Earnings per share, estimated for each company’s current fiscal year
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Sources: IBES International, Blooomberg News
