Short Take: Covad posts wider loss, beats Street

Covad Communications, a high-speed digital subscriber line (DSL) company, posted better-than-expected first quarter financial results, despite a wider loss. Covad reported a net loss of $28.9 million, or 84 cents a share, on revenue of $5.6 million, compared with a net loss of $2.8 million, or 59 cents, on revenue of $186,000 for the same period a year ago. Financial analysts expected a loss of 87 cents per share, according to First Call. Covad ended the quarter with about 8,600 DSL lines.