Since being repriced at $99.99 just over a month ago, Nintendo’s GameCube video-game console has more than quadrupled its U.S. sales rate and has taken 18 points of market share from its twocompetitors, the company said. It had been selling for $149.99.
Nintendo of America said GameCube has doubled its market share, to 37 percent from 19 percent, and runs a strong second to Sony’s PlayStation 2 in the U.S. market. Microsoft Corp.’s Xbox is third in market share.
Venture fund raising halved in third quarter
Venture capitalists saw their investment fund raising cut in half during the third quarter as they continued to digest the glut of money shoveled into the industry during the Internet feeding frenzy of a few years ago.
Nineteen venture capital funds raised $1.4 billion during the three months ended in September, a 51 percent drop from $2.9 billion at the same time last year, according to figures released Monday by Thomson Venture Economics and the National Venture Capital Association.
The decline continued a trend that began after venture capitalists collected investment commitments totaling $167 billion in 1999 and 2000.
Expedia’s parent set to report higher profit
InterActiveCorp, the Internet-commerce company controlled by Barry Diller, probably will report this morning that it boosted third-quarter profit before some acquisition-related expenses as sales at its travel Web sites surged, many analysts believe.
The company’s profit, excluding some non-cash expenses and costs tied to acquisitions, rose to 18 cents a share from 13 cents a year earlier, according to the average estimate of analysts surveyed by Thomson Financial.
InterActiveCorp, based in New York, is scheduled to report earnings today before the opening of the stock markets.
Revenue at the company rose 30 percent to $1.55 billion, InterActiveCorp’s highest ever, analysts said yesterday.
InterActiveCorp’s Expedia and Hotels.com travel Web sites are taking business from regular travel agencies as more consumers use the Internet to research accommodations and search for cheaper fares.
Quick Hits is written by P-I reporters John Cook and Dan Richman. Send comments to johncook@seattlepi.com. This report includes information from The Associated Press and Bloomberg News.
