NBCi expects 2001 shortfall - Broadcasting & Cable

NBCi expects 2001 shortfall

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NBC Internet, NBC's financially trouble Web unit, blamed its fourth quarter loss of $47 million on the soft Web ad market and predicted it will fall short of Wall Street projections for the current quarter and the year.

NBCi said late Tuesday it expects first quarter revenues to hit $16 million - $10 million less than analysts' forecasts - and now projects year-end revenues at $100 million, against forecasts of $112.4 million.

Fourth quarter revenue rose to $31 million, up from $27.3 million for the same quarter one year earlier.

NBCi announced layoffs last year aimed at reducing its work staff by half to help stop its bottom line from bleeding red. - Richard Tedesco

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