, which agreed to
for $1.2 billion last month, reported a second-quarter loss Thursday that was a penny larger than Wall Street's expectations, despite recording a sharp rise in both revenue and customers.
Shares of Webvan were down 9/16, or 6%, to 8 3/4 in aftermarket trading on the news, according to
. They closed regular trading Thursday at 9 5/16, up 29/32 or 12%.
For the second quarter ended June 30, the company reported a pro forma net loss of $57.1 million, or 17 cents a diluted share, compared with a loss of $17.4 million, or 7 cents a share, a year earlier. The consensus estimate of analysts polled by
First Call/Thomson Financial
was a 16-cent loss.
The pro forma numbers exclude noncash compensation and related expenses. Including those figures, Webvan's net loss widened to $74.4 million, or 23 cents a diluted share, in the latest quarter, compared with a loss of $23.4 million, or 38 cents a share, in the second quarter of 1999.
Revenue rose to $28.3 million from $383,000 a year earlier.
The number of active customer accounts exceeded 160,000, an 84% increase from the 87,000 accounts recorded at the close of the first quarter.
The company, based in Foster City, Calif., has $410 million in cash at the end of the second quarter.
The size of the average order for the quarter was around $91. Increases in average orders in the San Francisco Bay Area were offset by lower average orders in Atlanta and Sacramento, Calif., the company said. The Webvan service was started in Atlanta on May 1 and in Sacramento on June 1.