IGN Entertainment has reported its first-ever profitable quarter, with $204,000 in net profits compared with a net loss of $3.2 million a year ago. It also lost $3.9 million in the third quarter of 2002.
Revenues were up more than half compared with the same period in 2001. When one-time income from the 2001 sale of some assets is taken out, the company's revenues are up 68% year to year, said CEO Mark Jung.
About four-fifths of the company's revenues come from advertising and marketing. IGN also generated $542,000 from subscriptions, about 13% of its total revenues. Company projected another year of revenue growth, expecting $16 million-$17 million in 2003.
San Francisco-based IGN runs
www.IGN.com, a Web site devoted to videogames that claims 8 million unique visitors a month.
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