Helio suffers Q3 losses of $92.3 million

Embattled MVNO Helio posted third quarter revenues of $51.7 million and net losses of $92.3 million according to Internet service provider EarthLink, which launched the joint venture in tandem with Korean operator SK Telecom. EarthLink reported a net loss of $79.4 million on $298.8 million in revenue, compared with a net loss of $3.2 million on $331.3 million in revenue in Q3 2006. During the quarter, EarthLink handed over a $30 million loan to cover Helio's day-to-day operations, but said that while it will not participate in future funding rounds, it will retain "a meaningful ownership interest."   

For more on the Helio losses:
- read this release

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