StarMedia Beats Third-Quarter Estimates
StarMedia (STRM) 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.
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