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Search engine's owner increases losses...
Published: 26 September 2001 08:59 BST
Altavista, the search engine once owned by Digital Equipment, looks in trouble following poor results posted by its current owner.
CMGI last night recorded quarterly losses of $1.27bn, a sharp increase compared to a $633.7m deficit the previous year.
The company blamed a sluggish advertising market for a 30 per cent drop in revenues. Sales were $255.5m for the quarter.
However, CEO David Wetherall remained upbeat. In a statement to investors Wetherall said ongoing restructuring would result "measurable improvements in performance".
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