StarMedia Beats Third-Quarter Estimates

StarMedia (STRM Quote) reported a narrower-than-expected third-quarter loss and recorded 3.3 billion page views during the period.

The company reported a loss, excluding nonrecurring items, of $32 million, or 48 cents a share, compared with a loss of $25.2 million, or 43 cents a share, for the third quarter a year ago. Analysts expected the company to lose 59 cents a share for the quarter, according to First Call/Thomson Financial.

The Internet media company, which targets Spanish and Portuguese speakers, reported revenue for the latest third quarter of $17.1 million, compared with $5.6 million posted in same period a year ago.

StarMedia is now targeting operating profitability in the fourth quarter of 2001, a year earlier than previously expected.