Web.com Loss Narrows, Revenue Misses Estimate; Stock Down 17%

(RTTNews) - Web.com Group Inc (WWWW), a provider of Internet services to small businesses, Thursday reported second-quarter net loss of $0.8 million or $0.02 per share. This compares with a loss of $9.7 million or $0.20 per share last year.

Excluding amortization and other one-time charges, adjusted earnings for the quarter were $0.62 per share. Analysts polled by Thomson Reuters projected earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was $138 million, compared with $120.4 million in the prior year.

Including fair value adjustment to deferred business, adjusted revenue for the quarter was $144.7 million, compared with $131.4 million last year. Analysts projected revenue of $146.9 million.

Web.com's total net subscribers were about 3.2 million at the end of the quarter, up about 38,500 from the sequential first quarter.

Web.com stock dropped $4.61 or 17.36% at $21.94 in after-hours trade on the Nasdaq. The stock closed the day at $26.55, down $0.40 or 1.48%.