EarthLink posted a $30 million loss because of increased investments in its MVNO joint venture, Helio. Helio generated $30.4 million in revenue during the first quarter, but posted a net loss of $63.1 million. Helio's revenue for all of 2006 was $46.6 million. EarthLink says full year losses for the MVNO will total between $330 million and $360 million. Helio should become profitable by 2009, EarthLink said. In the meantime, Helio's revenue should triple to between $140 million and $170 million for the entire year. EarthLink said that Helio was on track to hit 100,000 subscribers during the second quarter of 2007, which is in line with previous expectations.
For more on Helio's Q1:
- see this company press release [1]
Links:
[1] http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-26-2007/0004574344&EDATE=