The high-speed Internet access provider also announced it had concluded its search for a new chairman-CEO, hiring Patti Hart, former chair and CEO of telecommunications company Telocity, who will take over both roles. She replaces George Bell, who is resigning from both posts.
The company's net operating loss for the quarter was $61.6 million, or 15 cents per share, compared to a net operating loss of $4.6 million, or 1 cent per share, in the first quarter of 2000.
Revenue for the quarter increased 3% compared to the first quarter of 2000, reporting earnings of $142.8 million. The company said its revenue growth was not attributable to online advertising but to subscription revenue for its residential broadband services, which grew to 3.2 million subscribers, up 126% from the same period last year.
Shares of AtHome Corp. lost 20 cents, or 4.91%, to close today at $3.87 on trading on the Nasdaq, down from a 52-week high of $28. -- Adrienne Mand
Copyright April 2001, Crain Communications Inc.