AOL Latin America (Nasdaq: AOLA) lost a penny less than analysts estimated in its first full quarter as a public company.
After market close Tuesday, the provider of Internet service reported a fiscal first quarter net loss of $98.1 million, or 36 cents per share. First Call's survey of four analysts predicted a loss of 37 cents per share.
Shares of AOL Latin America were unchanged in afterhours activity on the Island electronic communications network, immediately following the release of quarterly results. AOL Latin America stock rose 0.125 to 6.375 in Tuesday's regular trading, prior to the release of quarterly results.
First quarter revenue came in at $4.6 million, including $1.9 million from advertising and commerce. Membership for AOL Latin America, which currently operates in Brazil, Mexico and Argentina, increased to 314,000, up 155 percent sequentially. AOL Latin America users are online more than 30 minutes daily, on average.
"We are pleased with the continued growth of AOL Latin America. ... All of this provides a strong foundation for future success," said Charles Herington, president and CEO.
The company went public in August.>