China.com Posts Accidental Quarterly Profit

China.com, which went public last month amid criticism that its name was far catchier than its track record, said an inadvertent stock sale helped the Internet portal generate a $1.9-million second-quarter profit despite a loss from its operations. China.com said it pocketed $5.1 million when it bought back some shares in 24/7 Media Inc. that its brokers had inadvertently sold, giving it a net profit of $1.9 million for the quarter. But its operating loss widened to $3.5 million, from $2 million a year earlier, as revenue soared 174% to $2.4 million. China.com attracted a flurry of investors when it went public in mid-July, becoming the first Chinese-language Internet company to list in the United States. On its debut, shares were offered at $20 and rallied nearly 236% to $67.10. The early enthusiasm has waned, however. But the stock got a lift from the latest financial data, rising $3.50 to close at $35.50 on Nasdaq.