First quarterly profit for MSNBC site
SeattlePI | at | by Mike
MSNBC.com, the online news site owned by Microsoft and General Electric's NBC, said yesterday that it reached quarterly profitability for the first time since its launch eight years ago.
The site posted a profit of more than $1 million for the quarter ended June 30, said Charlie Tillinghast, MSNBC.com's general manager and publisher.
He attributed the result to declining costs and strong advertising revenue, particularly from companies looking to build their brand image and recognition through online advertising.