The high-speed Internet service provider reported a pro forma loss of $41.6 million, or 10 cents a share, in line with the consensus of analysts surveyed by
. The loss was $4.2 million, or a penny a share, in the third quarter of 1999. The pro forma losses exclude amortization of goodwill and other intangibles, distribution agreement amortization and costs, and certain nonoperational and other expenses.
The company reported that its residential subscriber base grew from 1.8 million to 2.3 million, with 415,000 of the 510,000 net additions for the quarter coming from North America.
In the fourth quarter, the company says it expects to see its subscriber base grow by 25% to 30%, which would put it within 100,000 of its long-stated goal of 3 million residential subscribers by the start of 2001.
Still, the company said that it expects pro forma losses for the fourth quarter to fall in a range of 8 to 10 cents, excluding the effect of its pending
Chello transaction. The consensus of analysts surveyed by First Call had been for a loss of 6 cents a share.
Ahead of the earnings call, Excite@Home's stock rose 6 cents to close at $10.13. In after-hours trading, it rose 44 cents.