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Short Take: PSINet third-quarter revenue increases

PSINet, the Internet service provider that has recently been on an acquisition tear, reported a loss in the third quarter that beat analysts' expectations. The firm reported a loss of $87.7 million, or $1.35 per share, compared to a loss of $48.1 million or 93 cents per share a year ago. Revenue rose 108 percent to $140.6 million from $67.6 million a year ago. During the quarter, PSINet acquired a number of international ISPs, opened global hosting centers, and signed deals with DSL networking providers for high-speed Net services.

PSINet, the Internet service provider that has recently been on an acquisition tear, reported a loss in the third quarter that beat analysts' expectations. The firm reported a loss of $87.7 million, or $1.35 per share, compared to a loss of $48.1 million or 93 cents per share a year ago. Revenue rose 108 percent to $140.6 million from $67.6 million a year ago. During the quarter, PSINet acquired a number of international ISPs, opened global hosting centers, and signed deals with DSL networking providers for high-speed Net services.