We may not have to take over CNET, after all.
The company’s revenue accelerated modestly in Q4–to 11% year over year growth from a paltry 7% in Q3. That’s not exactly an impressive growth rate, but it’s also not horrible, and at least it’s an improvement. Free cash flow (less stock-option litigation expenses, et al) also improved, to $14.2 million from $11.4 million last year. Free cash flow margin is still too low–only 11%–but adjusted EBITDA margin rose to a respectable 29%.
CNET still has too many employees and Q1 guidance was weak. But based on this quarter, management does seem to be making some progress. It will be interesting to see whether the improved results are enough to save management from the hostile takeover (our offer for the company is a friendly one).
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