Metromedia Fiber Network
posted higher revenue and a narrower-than-expected third-quarter loss, citing its aggressive business development.
The fiber-optic network provider reported a loss of $95.3 million, or 17 cents a share, compared with a loss of $32 million, or 16 cents a share, in the same period last year. Four analysts polled by
First Call/Thomson Financial
forecast a loss of 26 cents a share.
Revenue for the quarter rose sharply to $51.9 million from $10.7 million last year.
Shares of Metromedia Fiber Network were recently up $4.06, or 23.5%, to $21.38 in