America Online Latin America reported that its second-quarter loss widened, but less than analysts expected, as surging costs offset a quadrupling of revenues and the addition of 238,000 new members, Reuters reports.
The company, which is backed by Internet and media giant AOL Time Warner Inc. and Venezuela's Cisneros Group, said the loss before preferred stock dividends was $70.4 million, or 23 cents a share, compared with a loss of $46.7 million, or 18 cents, a year earlier. The company, which made its market debut last August, had a loss applicable to common shareholders of $76.0 million in the most recent quarter.
Wall Street analysts, on average, expected a loss of 27 cents a share, according to Thomson Financial/First Call.
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