Metromedia Fiber Network Beats Third-Quarter Estimates - TheStreet

Metromedia Fiber Network

(MFNX)

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

Nasdaq

trading.