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Short Take: Rhythms reports first quarter loss

Rhythms NetConnections posted a first quarter net loss of $23.9 million, or 36 cents a share on a pro-forma basis due to its recent IPO, compared with a net loss of $2.3 million, or $1.06 a share, for the like quarter a year ago. Wall Street expected a loss of 42 cents a share, according to First Call. Quarterly revenue rose to $660,000 compared with $10,000 a year ago, but Rhythms, a DSL provider, did not offer commercial service a year ago. Commercial services started April 1998.

Rhythms NetConnections posted a first quarter net loss of $23.9 million, or 36 cents a share on a pro-forma basis due to its recent IPO, compared with a net loss of $2.3 million, or $1.06 a share, for the like quarter a year ago. Wall Street expected a loss of 42 cents a share, according to First Call. Quarterly revenue rose to $660,000 compared with $10,000 a year ago, but Rhythms, a DSL provider, did not offer commercial service a year ago. Commercial services started April 1998.