Vonage 3Q Losses Down to $7.8 Million

Over-the-top VoIP provider Vonage Holdings Corp. (VG) continues to pare its losses, although it still has yet to make a profit.

The New Jersey-headquartered company Thursday reported losses of $7.8 million, down from $158 million a year earlier. That’s impressive given Vonage’s money, leadership and lawsuit woes over the past several years. The third quarter 2008 improvements came thanks in part to lower advertising spending, Vonage said. The company’s customer-acquisition costs since its inception have been eye-poppingly high and fueled much talk of financial failure.

But Vonage so far has managed to stay afloat, and longer than a lot of people expected. Executives recently refinanced the company’s debt – a feat in a credit crunch – and seem to have put multiple lawsuits behind them.

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