Netscape Reports Losses

Netscape Communications has reported a larger-than-expected loss for the fourth quarter of 1997 due to restructuring charges and strong competition.

Losses hit $88.3 million compared to profits of $8.2m in the last quarter of 1996. Revenue however increased from $115.2m to $125.3m.

Increased competition from Microsoft’s Internet Explorer hit the browser manufacturer particularly hard.

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