WebMD Reports Decreased Net Loss in the Second Quarter of 2002
New Jersey-based WebMD Corp. on Tuesday announced that the company's second-quarter net loss dropped as a result of reduced expenses and "restructuring efforts," Dow Jones Business News reports (Lucas, Dow Jones Business News, 8/6). WebMD posted a second-quarter net loss of $22.2 million, or seven cents a share, a decrease from $821.8 million, or $2.30 a share, a year earlier (Morley, Bloomberg News/Bergen Record, 8/7). Second-quarter revenue dropped to $196.1 million from $197.4 million a year earlier. "We continue to recognize the benefits of our restructuring as evidenced by the seventh consecutive quarter of improvement in our operating results before restructuring and noncash items," Martin Wygod, WebMD chair and CEO, said (Dow Jones Business News, 8/6).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.