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<PAGE> 1
EXHIBIT 99.2
SUPPLEMENTAL COMBINED CNET AND ZDNET
PROFORMA CONSOLIDATED STATEMENTS OF OPERATIONS (1)
UNAUDITED
<TABLE>
<CAPTION>
(000S) QUARTER ENDED QUARTER ENDED QUARTER ENDED QUARTER ENDED YEAR ENDED
3/31/99 6/30/99 9/30/99 12/31/99 12/31/99
<S> <C> <C> <C> <C> <C>
Revenues:
Internet $ 36,985 $ 47,635 $ 54,845 $ 73,102 $ 212,567
Other 20,813 17,353 17,287 19,013 74,466
------------- ------------- ------------- ------------- -------------
Total revenue 57,798 64,988 72,132 92,115 287,033
Cost of revenue 25,385 25,730 29,393 37,222 117,730
------------- ------------- ------------- ------------- -------------
Gross profit 32,413 39,258 42,739 54,893 169,303
Operating expenses
Sales and marketing 13,338 15,945 45,477 66,469 141,229
General and administrative 6,732 12,333 12,624 12,021 43,710
------------- ------------- ------------- ------------- -------------
20,070 28,278 58,101 78,490 184,939
EBITDA 12,343 10,980 (15,362) (23,597) (15,636)
Non-cash operating expenses
Depreciation 2,138 2,599 3,281 3,482 11,500
Amortization of goodwill 135,411 136,375 142,683 146,585 561,054
------------- ------------- ------------- ------------- -------------
137,549 138,974 145,964 150,067 572,554
Operating income (125,206) (127,994) (161,326) (173,664) (588,190)
Other income (expense)
Gain (loss) on sale of assets 19,875 4,700 97,791 613,716 736,082
Minority interest 117 -- -- -- 117
Interest income (expense), net 238 736 81 1,351 2,406
Other non-operating income (expense) -- -- -- -- --
------------- ------------- ------------- ------------- -------------
Total other income (expense) 20,230 5,436 97,872 615,067 738,605
------------- ------------- ------------- ------------- -------------
Net income (loss) before income taxes (104,976) (122,558) (63,454) 441,403 150,415
Income taxes 2,021 652 40,917 217,302 260,891
------------- ------------- ------------- ------------- -------------
Net income (loss) $ (106,997) $ (123,210) $ (104,371) $ 224,101 $ (110,476)
============= ============= ============= ============= =============
Basic net income (loss) per share (0.90) (1.01) (0.85) 1.81 (0.91)
============= ============= ============= ============= =============
Diluted net income (loss) per share (0.90) (1.01) (0.85) 1.65 (0.91)
============= ============= ============= ============= =============
Shares used in calculating basic
per share data 119,459 121,651 122,536 123,624 121,820
============= ============= ============= ============= =============
Shares used in calculating diluted
per share data 119,459 121,651 122,536 135,516 121,820
============= ============= ============= ============= =============
<CAPTION>
(000S) QUARTER ENDED QUARTER ENDED QUARTER ENDED
3/31/00 6/30/00 9/30/00
<S> <C> <C> <C>
Revenues:
Internet $ 78,254 $ 89,504 $ 96,803
Other 14,516 14,806 13,746
------------- ------------- -------------
Total revenue 92,770 104,310 110,549
Cost of revenue 40,231 44,308 46,021
------------- ------------- -------------
Gross profit 52,539 60,002 64,528
Operating expenses
Sales and marketing 35,996 44,053 37,569
General and administrative 9,875 10,858 10,252
------------- ------------- -------------
45,871 54,911 47,821
EBITDA 6,668 5,090 16,707
Non-cash operating expenses
Depreciation 3,868 4,334 4,964
Amortization of goodwill 166,092 206,075 208,191
------------- ------------- -------------
169,960 210,409 213,155
Operating income (163,292) (205,319) (196,448)
Other income (expense)
Gain (loss) on sale of assets (3,966) 73,550 37,311
Minority interest (364) -- --
Interest income (expense), net 77 (246) (7)
Other non-operating income (expense) -- (5,546) --
------------- ------------- -------------
Total other income (expense) (4,253) 67,758 37,304
------------- ------------- -------------
Net income (loss) before income taxes (167,545) (137,560) (159,144)
Income taxes 0 30,402 19,206
------------- ------------- -------------
Net income (loss) $ (167,545) $ (167,963) $ (178,351)
============= ============= =============
Basic net income (loss) per share (1.31) (1.24) (1.30)
============= ============= =============
Diluted net income (loss) per share (1.31) (1.24) (1.30)
============= ============= =============
Shares used in calculating basic
per share data 127,422 135,694 137,073
============= ============= =============
Shares used in calculating diluted
per share data 127,422 135,694 137,073
============= ============= =============
</TABLE>
(1) These financial statements reflect the pro forma financial results of CNET
Networks, Inc.'s acquisition of Ziff-Davis, Inc. as if such acquisition had
occurred on January 1, 1999.
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