Short Take: Metromedia posts narrower third-quarter loss

Metromedia Fiber Network, a local communications provider, posted a third-quarter loss that beat expectations. For the quarter ended Sept. 30, MFN reported a wider net loss of $95.3 million, or 17 cents a share, compared with a net loss of $32 million, or 16 cents per share, for the same year-ago period. Wall Street expected a much wider loss of 26 cents a share, according to First Call/Thomson Financial. Metromedia, which owns Web hosting concern AboveNet Communications, saw its quarterly revenue increase nearly fivefold to $51.9 million, up from $10.7 million a year ago.