Juno Online Services Inc., New York, reported revenue of $28.7 million and a net loss of $9.6 million for the first quarter of 2001.
This net loss represents an improvement by about a factor of five compared with the net loss of $47.6 million the company reported for the year-ago quarter.
Revenues for the first quarter of 2001 were up 19% compared with the $24.0 million reported for the year-ago quarter. Juno derives revenue primarily from subscription fees it charges for its premium Web access services. Some revenue also comes from the sale of advertising and from various forms of electronic commerce.
Juno reduced subscriber acquisition costs to $6.3 million in the first quarter of 2001, down from $44.8 million in the year-ago quarter. In spite of this reduction in spending, Juno’s active subscriber base grew to 4.1 million in the March 2001, up from 4 million in December 2000.
