AOL Latin America Beats First-Quarter Estimates
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
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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.
