GoTo.com, Inc. (Nasdaq: GOTO) rose 3 3/16 to 37 11/16 in early trading Tuesday, after the Pasadena, California-based search-engine company reported higher sales for the first quarter.
Revenue advanced to $17.2 million from $1.45 million in the same quarter a year earlier, as the company’s loss widened to $9.0 million, or 20 cents a share — before special charges — from $7.4 million, or 24 cents. The net loss for the latest quarter, however, amounted to $30.5 million, or 67 cents a share.
Chief Executive Officer Ted Meisel said the company plans to expand its shopping and auction services.
So-called “paid clicks,” or matches of consumers with advertisers, rose in the quarter to 88 million from 15 million in the same quarter last year. Advertisers paid the company an average of 19 cents for each of these introductions. GoTo said it had more than 25,000 advertisers at the end of March, up from 4,800 a year earlier and 21,000 at the end of December.