Goldman Shaves Revenue Estimates for Terra Lycos

Analyst Tonia Pankopf says she may further revise her revenue estimates of the Internet portal firm

Goldman Sachs cut their estimates on Terra Lycos (TRLY ).

Due to poor visibility beyond the first quarter, analyst Tonia Pankopf cut 2001 revenue estimates by $906 million to $725.5 million, and shaved $1.3 billion from 2002 estimates to $991 million. She widened Terra's $132 million 2001 EBITDA loss to a $213.5 million loss and cut $118 million from the company's 2002 EBITDA to $22.5 million. While her estimates indicate profitability by 2002, Pankopf says she is now not so confident about those estimates and may further revise them. Terra is trading at 8.5 times her 2001 revenue estimate -- a premium price relative to the comparable universe of global IBP and portal companies.

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