Updated from 1:46 p.m. EDT
Another troubled Internet player,
, reported Wednesday that it sustained a slightly greater loss than expected in the second quarter, at the same time that it shifts from a business-to-consumer to a business-to-business model in an attempt to stay viable.
Internet companies, or "dot-coms," have been buffeted by tremendous tumbles in their share prices and increasing investor skepticism over current business models. Other beleaguered dot-coms include online music seller
hawked itself to German media giant
, which is confounding shareholders by
rebuffing various acquisition overtures.
For the second quarter ended June 30, the company reported a net loss of $11.1 million, or 25 cents a diluted share, compared with a loss of $8.6 million, or $1.00 a share, a year earlier. The consensus estimate of analysts polled by
First Call/Thomson Financial
was a loss of 24 cents.
Revenue fell to $11.0 million from $16.9 million a year ago.
Originally, the mission of Mortgage.com was to help consumers qualify for mortgages by searching for rates and services on its Web site. However, the Sunrise, Fla.-based company is now billing itself as a B2B play focused on the online mortgage lending industry.
Shares of Mortgage.com slipped 3/32, or 8%, to close at 1 5/32 Wednesday. They are down 95% from their 52-week high.