Net revenues rose 16%
Tickets.com, a rival to Ticketmaster on the Web, Tuesday posted a second-quarter loss of $3.4 million, less than half of the total for the previous quarter and down $10.5 million, or 76%, from the three-month period ended June 30, 2000. Net revenues rose 16% to $17.1 million, while operating expenses continued to decrease 32% to $17.3 million during the period.
“Our revenue base continues to expand as we build on existing relationships and establish new ones,” said W. Thomas Gimple, co-chairman and CEO of Tickets.com. “The solid results we’ve seen in the second quarter continue to demonstrate the successful execution of our plan toward profitability and further delineate Tickets.com from other pure Internet-based business models.”