April 23, 2002, 12:00 AM
By Kurt Peters Executive Editor
For the first quarter, paid search engine FindWhat.com, which focuses on generating search results for smaller portals and engines, reported net income of $2 million, a 23% increase over the previous quarter, on revenues that rose 9% to $8.7 million from $8 million in the previous quarter.
Driving the growth was an increase in paid click-throughs, which rose 10% to 50.8 million for the quarter from 46.2 million in the fourth quarter of 2001. Average revenue per click-through on FindWhat.com’s search engine was $0.17, steady with the previous quarter’s average and up 70% from $0.10 a year ago. For the quarter, the number of active advertiser accounts was 16,500, up 8% from 15,300 active accounts in the previous quarter and up 119% from the 7.500 active advertiser accounts in Q1 2001.