Vonage posts 3Q loss

Vonage posted a wider third-quarter loss of $54.6 million this week and blamed it on the stock rally they had that inflated share prices and resulted in a $63 million charge. The year-ago loss was only $7.8 million. Its share price spiked in August when Google announced its Voice application and investors took that move as a vote of confidence in the VoIP market--driving up Vonage's stock.

Vonage's revenue for the quarter was $221.5 million down two percent from $225.8 million a year ago. Revenue per user was up to $29.89 from $28.75. Although the company posted a net loss for subscribers, they claimed that new subscriptions were coming in at double the rate since the beginning of the quarter. Customer churn also increased to 3.4 percent.

Despite the down numbers, Vonage has been making some serious moves lately, launching its $24.99 a month unlimited international calling plan and putting out an innovative smartphone app for Blackberry and the iPhone.

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