Verio Inc, the Englewood, Colorado internet service provider, continues to burn money as it builds market share and has reported third quarter net losses of $33.6m – almost equal to revenues of $33.8m. Gross profits are not even scheduled until the middle of next year. In the meantime, Verio is gobbling up other companies at an accelerating rate. In the last quarter, six acquisitions costing a total of $63.4m were completed, including German web hosting outfit WWW-Service AG, which gives it a big stake in the European market. These latest purchases are expected to add $25m to annual revenues. The current figures include a $3.4m one off charge for reorganization that has seen 250 jobs go. Shares fell 19% on the results to $14.625.
