For the quarter, the Atlanta-based company posted a loss of $55.5 million, or 28 cents per share, better than the First Call/Thomson Financial consensus estimate of 34 cents. That compares with a loss of $12.7 million, or 18 cents per share, in the same period a year ago, the company announced after yesterday's market close.
Meanwhile, the company reported an
Healtheon, which links doctors, patients, insurers and pharmaceutical companies via an online network, attributed more than half of its quarterly revenues to a significant increase in transaction revenues. Transaction revenues were $51.8 million, which largely came from additional revenues contributed through Envoy, Healtheon's claims processing unit, acquired earlier this year.
Internet transactions totaled approximately 7 million in the quarter, a jump from 4.8 million in the company's first quarter. Subscription revenues were up 35 percent to $9.2 million from the first quarter.
While most industry analysts expect Healtheon to continue to post losses until 2002, co-founder and Netscape veteran Jim Clark promises the company will turn a profit this year.