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EarthLink Reports Loss of $40 Million

July 31, 2002|Associated Press

EarthLink Inc. posted a $40-million loss for the second quarter as subscriber growth for high-speed Internet access was canceled out by a nearly 7% loss in dial-up customers. The net loss, equal to 27 cents a share, was better than a year-earlier loss of $98.7 million, or 75 cents a share.

Excluding amortization and depreciation costs, the company lost $10.8 million, or 7 cents a share, 2 cents better than the forecast of analysts surveyed by Thomson First Call. That compares with an operational loss of $35.1 million, or 27 cents, in the same quarter of 2001.

Revenue at the Atlanta-based Internet service provider rose 10% to $335.5 million.

EarthLink said it expects a full-year loss of 15 cents to 22 cents a share on revenue of $1.4 billion. Its shares rose 2 cents, to $4.75, on Nasdaq.

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