Media Guardian: Lycos hit by diving revenues

European internet portal Lycos has announced a sharp drop in revenues, and has admitted worse-than-expected economic conditions could cause it to miss its breakeven target. The company, which is 27% owned by US web giant Terra Lycos, saw revenues for the third quarter fall to £57m, a drop of 22% compared to the same period last year.

Despite having some success with introducing paid-for services, Lycos is continuing to feel the shockwaves of the dotcom crash and the advertising downturn.