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Storms ahead for Loudcloud: losses total $234m

Web hosting company Loudcloud has reported widened fiscal fourth quarter losses in its first quarterly results as a publicly traded company.

By Sonya Rabbitte on 6 April 2001 12:57

NEWS Results for the fourth quarter, ending 31 January, jumped to $58.8m from $4.85m a year ago, with loss for the year jumping to $234m or $1.90 a share. Excluding amortisation costs for an employee stock option plan, fourth quarter losses were £38.2m. Revenue for the fourth quarter was also on the up, almost doubling to $8.9m from $4.6m a year ago. Loudcloud shares jumped 7.8 per cent to $4.47 in after hours trading.

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