InPhonic Buzzes Higher

Investors like its sales target.
Publish date:

InPhonic (INPC) shares jumped in early trading after the company says it trimmed its losses and raised sales guidance.

The Washington, D.C., online cell phone retailer late Monday posted a net loss of $4.8 million, compared with the $4.9 million a year ago. Looking ahead, the company said it expects revenue in the fourth quarter to be about $120 million. Analysts were looking for sales of $118 million, according to Reuters Research.

The mobile phone seller, which operates, has

recently attracted $100 million in financing from

Goldman Sachs

(GS) - Get Report

, a 14% stakeholder in the company.

InPhonic shares were up $1.27, or 14%, to $10.31 early Tuesday.