Vonage narrows 4Q loss to &#36;65 million
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Internet phone company Vonage Holdings Corp. narrowed its fourth-quarter loss to $65 million as revenue nearly doubled with the addition of nearly 1 million customers during 2006.
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NEW YORK - Vonage Holdings Corp., the beleaguered provider of Internet-based phone service, said yesterday it has settled a patent lawsuit brought by Verizon Communications Inc. for a maximum of $120 million.
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Verizon Communications Inc. earned &#36;3.04 billion in the fourth quarter, posting a 6 percent revenue gain as another powerful showing by the cellular business more than compensated for the continuing decline of traditional local phone service.
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MCI Inc. Thursday reported a loss of $3.4 billion during its third quarter, reflecting its recent decision to write down the value of its telecommunications network. -The Washington Post
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Operating profits slipped 5.5 percent at Cingular Wireless LLC despite gains in both subscribers and revenue in what was likely the last full quarter before the company's completes its &#36;41 billion purchase of AT&amp;T Wireless Services Inc.
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Vonage tanked after its IPO. It's not entirely clear anymore why eBay paid $2.6 billion for Skype. And the long-awaited rollout of advanced TV services based on Internet technologies has resembled the drip of a faucet.
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AT&amp;T Corp. (TN: Quote, Profile, Research) and Internet telephone provider Vonage said on Thursday they were cutting prices for their residential Internet calling services
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The company reported a loss of $369.9 million in its fourth quarter, citing higher taxes, difficulty in its mortgage referral unit and costs for proposed spinoffs that would make five companies out of one.
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WASHINGTON (CBS.MW) -- Qwest Communications International&#39;s third-quarter loss narrowed as the phone carrier slowed the decline in its sales, the company reported Thursday.
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AT&amp;T Corp., the No. 4 U.S. telephone company, said on Thursday its fourth-quarter earnings increased as it cut costs through slashing jobs and lower equipment expenses.
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A U.S. jury found that Vonage Holdings  Corp  had infringed patents owned by Sprint Nextel Corp   and ordered the Internet phone company to pay $69.5  million in damages, triggering a 34 percent fall in its shares.
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AT&T Corp., the No. 4 U.S. telephone company, said on Thursday its fourth-quarter earnings increased due to cost-cutting through job cuts and a tax benefit from the writedown of its assets.
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(InfoWorld) - Vonage Holdings lost less money in the fourth quarter of 2006 than a year earlier, but it didn't attract as many new subscribers to its VOIP (voice over Internet Protocol) service despite heavy marketing. The company, a pioneer in selling phone service that uses packet data networks instead of traditional circuits, now faces competition from cable operators and the established telecommunications carriers. The big players recognize the potential cost benefits of the technology as well as its flexibility, including the ability to give subscribers a browser-based portal for using voice mail and changing service preferences. But those big players are also bundling VOIP with other services, such as broadband Internet access and TV. Vonage ended the fourth quarter with a net gain of 166,267 subscriber lines, bringing its customer base to more than 2.2 million. But that was less than the 204,591 subscribers it gained the previous quarter as well as its gain in the fourth quarter of 2005, when it added 207,252 subscribers. Revenue soared to $181 million, up 91 percent from a year earlier, and the company's net loss narrowed. Vonage lost $65 million, or $0.42 per share, compared with a loss of $72 million in the fourth quarter of 2005. The company's margins also improved, according to a statement Thursday. But Vonage has built its business on being an early mover and drawing a big base of customers that can later drive profits. The company's marketing costs still amounted to 53 percent of revenue in the fourth quarter, although this was down from 71 percent a year earlier. Vonage still expects to reach its goal of making an operating profit, adjusted for certain factors, as early as the first quarter of 2008, the statement said. The company's stock (VG) dropped sharply after its initial public offering on the New York Stock Exchange last May at $17. Among other things, investors worried about the company's losses and growing competition. On Thursday afternoon local time, the share price was down $0.42 at $5.42. Though the future is cloudy for dedicated VOIP companies, VOIP itself is looming larger in major service providers' plans, according to IDC analyst Will Stofega. For example, mobile operators are looking at VOIP overÂ combined cell and Wi-Fi phonesÂ as a way to improve in-home coverage without the expense of beefing up the cellular network itself. However, it's too soon to count out Vonage. The company has started to focus on small and medium-size businesses, where it faces less competition from cable operators, Stofega said. Consumers may also see providers such as Vonage get into mobility themselves. Vonage could buy minutes from a cellular carrier and offer a service that lets subscribers hop on to Vonage via Wi-Fi at home, Stofega said. It has no traditional cellular minutes business to protect and could move early, jump-starting the trend, he added. The company could also team up with public hotspot providers or a municipal Wi-Fi operator such as EarthLink to provide mobile service over those networks, he added. But both of these are hard ways to make a profit, Stofega said.
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Internet phone company Vonage Holdings Corp. said on Friday it was not going out of business despite a jury's verdict a day earlier that it infringed on three patents owned by Verizon Communications Inc.
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The cost of Vonage's VoIP technology development policy - build now, ask questions later - hardened a bit more after the close of stock trading this afternoon. Vonage has agreed to settle with the first of its three aggrieved parties, Verizon, in an unusual deal that hinges upon a forthcoming ruling from an appeals court and a separate injunction ruling from a district court.
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Qwest Communications International Inc.  on Tuesday reported a smaller quarterly loss as it cut costs in its long-distance business.
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AT&T Corp. T.N, the No. 4 U.S.  telephone company, said on Thursday its fourth-quarter earnings  increased as it cut costs through slashing jobs and lower  equipment expenses.