Vonage Losses Widen

Vonage Holdings Corp. on Tuesday reported wider net losses for the second quarter, attributing the results to money spent acquiring new customers for its Internet telephony service.

The company said its loss had gone up by 16.5 percent to $1.16 per share or $74.1 million. Revenue, on the other hand, skyrocketed from $59.4 million in the second quarter of 2005 to $143.4 million for the second quarter of 2006.

Vonage went public in May and has endured continued declining prices. The company’s IPO debuted at $17 and was trading at $6.80 on Tuesday mid-morning.

Vonage Holdings Corp. www.vonage.com

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