WASHINGTON—Online cell phone retailer InPhonic Inc. reported its net loss from continuing operations grew during the second quarter despite an increase in revenues.
The company reported revenues of $95.8 million for the quarter, up from $75.2 million during the same period last year. Revenues beat analyst expectations of $92.56 million for the quarter.
The company’s net loss was $5.1 million, an increase from a loss of $1.2 million for the second quarter last year. The loss included the impact of restructuring costs and acquisition expenses, said the company.
InPhonic’s stock tumbled 10 percent on the news to $5.72 per share.
The company offered third-quarter guidance of $95 million to $105 million in revenues, slightly lower than analyst forecasts of $105.9 million. For the year, InPhonic expects to log revenues of between $400 million and $410 million, on par with analyst expectations of $403.6 million.
