The company's quarterly loss widened to US$58.8 million from US$4.85 million the previous year, a daunting figure in Loudcloud's first quarter as a publicly traded company. Sales for the quarter ending January 31 nearly doubled to US$8.9 million from US$4.6 million, the company said in a statement.
Loudcloud raised US$150 million in an initial public offering on March 8, after twice reducing the asking price for the stock to entice buyers. The shares have fallen 28 percent since the IPO. Excluding costs for the amortization of employee stock-compensation plans, Loudcloud said it had a loss of US$38.2 million.
Shares of Sunnyvale, California-based Loudcloud were recently quoted at US$4.25 in after-hours trading. They rose US$0.31 to US$4.31 in regular US trading.
The company's earnings were released after the close of US markets.
Loudcloud provides Internet services for technology companies by building and managing software, databases and other equipment.
News.com's John Borland contributed to this report.
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