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Agreed, it does look better now, but it's not more than a very slim silver lining.
Fact is, revenues decreased yet again. The only reason for the positive EBITDA is massive cost cutting, mostly firing people, and selling off of properties like Nettavisen and Netzeitung.de.
I fail to see a clear concept where to go for a real break even though. Basically Lycos.Europe still is in the same pit as Yahoo Europe or AOL Europe. All built on ad revenues.
The only big portal in Germany I know of making a profit is Web.de. They have started very early to push paid services.