toggle

AAPL Stock: 112.14 ( -0.78 )

Printed from http://www.macnn.com

Helio loses $326 million in spite of revenue

updated 02:50 pm EST, Fri February 29, 2008

Helio loses $326 million

MVNO carrier Helio has posted a net loss of $326 million for 2007, an official announcement reveals. Although the carrier's revenue grew to $171 million last year from $46 million in 2006, the company has also been facing mounting costs, such as an advertising budget that rose from $21.6 to $47.5 million. Recent losses are notably out of proportion to those from 2006, which were only $192 million.

This creates significant danger for Helio, as the company is no longer being funded by EarthLink due to issues such as its failed municipal Wi-Fi effort. Helio is not yet at risk of folding however, as it has raised $600 million in funding, and according to company representatives it still has $45 million in "cash, cash equivalents, and marketable securities." Its sole parent company is now Korea's SK Telecom. [via RCR Wireless News]




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. Eldernorm

    Joined: Dec 1969

    0

    Maybe Helos is setting

    Maybe the sun is not rising at Helos but rather setting. ?????

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented