SportsLine.com, Inc. rose 3 11/16 to 15 5/16 after reporting higher revenue and a narrower loss for the first quarter.
The Fort Lauderdale, Florida-based Internet sports media company said revenue more than doubled, reaching $22.7 million, up from $11.1 million in the same quarter last year. The company reported a net loss of $7.2 million, or 28 cents a share, compared with a loss of $10.1 million, or 47 cents, in the year-earlier quarter.
Due to the NCAA “March Madness,” SportsLine received more unique visitors and a higher percentage reach than any other Internet sports site during March, according to Nielsen//NetRatings. The company said traffic to its Web sites during the month averaged 12 million page views per day. The trend is continuing this month, said SportsLine, with an average of more than 15 million page views a day.
“We’re feeling very confident about the health of our business,” said Michael Levy, founder and chief executive officer.