Overstock.com (OSTK) Reports Q3 Loss of $0.08/Share
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Overstock.com Reports Q3 2015 Results
November 9, 2015 4:06 PM ESTSALT LAKE CITY, Nov. 9, 2015 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ: OSTK) today reported financial results for the quarter ended Sept. 30, 2015.
Dear Owners,
We made significant strategic shifts this quarter. We spent $3.2 million on Medici (our blockchain-oriented subsidiary) and $1.3 million spent on litigation in San Francisco (now on track for a March trial): their combined cost of nearly $5 million caused our Net Income to go slightly (.5%) negative for the first time in 15 quarters. However, I believe this significant evolution in Overstock's strategy allows us to parlay our pre-eminence in the world-historic opportunities of... More
