AOL Latin America Beats First-Quarter Estimates

Author:: Yi Ping Ho
Publish date:: Nov 7, 2000 5:45 PM EST

AOL Latin America

(AOLA)

posted a narrower-than-expected first-quarter loss, amid growing subscription rates in the region.

The Fort Lauderdale, Fla., company, a joint venture between

Cisneros Group

and

America Online

(AOL)

, lost $98.1 million, or 36 cents a share. There were no comparable prior year financials because AOL Latin America's first service, America Online Brazil, launched in November 1999.

According to

First Call/Thomson Financial

, analysts expected a loss of 37 cents a share.

Revenue rose to $4.6 million from $4 million in the quarter ended June 30. The company also said it added 191,000 members during the quarter to a total of 314,000 subscribers in Brazil, Mexico and Argentina.