Excite@Home Loses $346.3 Million

Internet content and service provider Excite@Home Corp. reported a steep second-quarter loss, largely reflecting a weak online advertising market, which has hurt its media business. The company said it lost $346.3 million, or 85 cents a share, in the second quarter, compared with a loss of $668.3 million, or $1.69 a share, in the year-ago quarter.

Excite@Home said its operating loss, excluding some unusual costs, was $65.1 million, or 16 cents a share, compared with an operating loss last year of $38.6 million, or 10 cents a share. The operating loss was in line with most analyst forecasts, according to First Call/ Thomson Financial. The company said its sales fell 7% to $138.6 million.