Boston, MA 08/06/2014 (wallstreetpr) – Earthlink Holdings Corp (NASDAQ:ELNK) announced the financial results for the second-quarter of year. The revenue for the quarter came at $297.4 million. The net loss came at $0.21 per share or $21.8 million. The adjusted EBITDA for the quarter came at $50.9 million. The net cash for second-quarter from operating activities came at $18.0 million. The free cash flow in unlevered terms stands at $24.9 million.
Detailed revenue
Earthlink Holdings Corp (NASDAQ:ELNK)’s reported the total revenue of $297.4 million in second-quarter. It was a drop of 5.1% as compared to the prior year quarter. Though the revenues declined but still, it was better than the 6.1% decline year-over-year reported in the financial results of first quarter 2014. The business services revenue showed a drop of 3.7% as compared to the second-quarter of 2013. It was again a better figure as compared to the decline of 4.3% year-over-year in the first quarter of 2014.
The improvement in revenues was the result of sales team efforts to extend the contracts with the existing clients. The revenue from consumer services was helped the enhanced target price actions in the second-quarter. It came higher in tandem corresponding with higher ARPU.
The net loss for the quarter
The net loss for the second-quarter came at $21.8 million. It was inclusive of one-time non-cash expenses of $5.4 million. The net loss was greater than the net loss of $11.2 million in the same period last year. It was a narrower loss sequentially as Earthlink Holdings Corp (NASDAQ:ELNK) reported the loss of $26.5 in the first quarter of 2014. The adjusted EBITDA was $50.9 million, a 2% increase as compared to the first quarter of 2014. However, it was lower by 15% from the second-quarter of 2013.
The net cash at the end of the second quarter was $98.5 million. The management is excited about the cash coming from the operations. The results showed an improvement sequentially but were not satisfactory as compared to the second-quarter of 2013.
