Vonage Losses due to Marketing
Internet phone company Vonage Holdings Corp. reported a wider net loss for the second quarter as it spent heavily to market its Web-based calling service.
Vonage, whose shares have lost more than half their value since going public in May, said its loss widened by 16.5 percent to $74.1 million, or $1.16 per share. The company's loss in the same quarter a year ago was $63.6 million.
The company said it does not expect to become profitable till first quarter 2008.