CMGI Inc., a leading global Internet operating and development company, reported that net revenue for the second fiscal quarter ended January 31, 2002, was $210.8 million, a 5% increase compared with the previous quarter. CMGI reported a total operating loss of $127.1 million for the quarter ended January 31, 2002, compared to a total operating loss of $207.1 million for the quarter ended October 31, 2001, representing a 39% decrease in operating loss quarter over quarter.
CMGI owns online auction site uBid. In addition to uBid's own auction listings, called uBid Direct, uBid features auctions listed by uBid-approved businesses and backed by uBid or brand warranties (called uBid Preferred Partner). uBid also features auctions listed by consumers through a service called uBid Consumer Exchange.
CMGI revealed that during the 2001 holiday shopping season (Friday, November 23 - Monday, December 24, 2001), uBid indicated solid year-over-year growth and reported a 30 percent jump in user registrations; a 45 percent increase in credit card registrations; a 68 percent increase in page views, and a 34 percent increase in bids received - all versus the same period last year. In addition, uBid continued to expand its inventory with more than 34 million items available on the site for auction, an increase of 465 percent compared to the same period last year. The company also reported nearly one million new consumer-to-consumer items posted daily during the 2001 holiday shopping season.
uBid recently launched a fixed price feature called "uBuy It Now," allowing consumers to complete purchases on brand name items at a fixed price.
CMGI's majority-owned operating companies include Engage (Nasdaq: ENGA), NaviSite (Nasdaq: NAVI), AltaVista, Equilibrium, ProvisionSoft (formerly CMGion), SalesLink, Tallán, uBid and yesmail.com. The company is based in Andover, Massachusetts.
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