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Virgin Mobile posts wider quarterly loss

NEW YORK
Thu Nov 15, 2007 5:20pm EST

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Virgin Group Chairman Sir Richard Branson during a news conference in Toronto in a file photo. Virgin Mobile USA on Thursday reported a wider third-quarter loss, but revenue rose about 18 percent in its first earnings report since last month's initial public offering. REUTERS/J.P. Moczulski

NEW YORK (Reuters) - Virgin Mobile USA Inc VM.N on Thursday reported a wider third-quarter loss, but revenue rose about 18 percent in its first earnings report since last month's initial public offering.

Virgin Mobile USA, a venture of Sprint Nextel Corp (S.N) and Richard Branson's Virgin Group VA.UL, reported a quarterly net loss of $7.3 million, compared to a net loss of $5.1 million for the third quarter of 2006.

Virgin Mobile USA reported a pro forma diluted loss for the third quarter 2007 of 15 cents per share, compared to a pro forma loss of 10 cents per share in the third quarter 2006.

It posted revenue of $319.50 million, up from $270.99 million, it said in a statement.

(Reporting by Paul Thomasch, editing by Leslie Gevirtz)


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