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BELLEVUE, Wash.-InfoSpace Inc., which sells Web and wireless software and application services, reported revenues for its third quarter of $33.6 million and a net loss of $26.4 million.
“I’m pleased to report that our focus on profitability is paying off. We are continuing to focus on core products, allowing us to streamline and further reduce our operating expenses,” said Naveen Jain, the company’s chairman and chief executive officer. “This quarter we added more than $10 million in cash from operating activities to our already strong and debt free balance sheet.”
Investors seemed encouraged by the news, sending the company’s stock up 13 percent to about $6 per share.
