XO's latest financials

XO reported strong second quarter results, despite a weakening economy and industry consolidation. Revenues continue to move from legacy to IP.

Revenues for the quarter were $367.4 million, with adjusted EBITDA of $26.1 million. XO had a net loss of $29.7 million, $13.2 million lower than the first quarter of 2008. More importantly, XO continued to see revenues move from legacy TDM services to Data and IP. On a year over year basis, data and IP revenues grew more than 32 percent; XO offers a mix of services including collocation, dedicated Internet access, Ethernet, MPLS, private line, VPN, carrier VoIP and commercial VoIP services.

XO's Flex IP services continued to perform well, with second quarter sales exceeding all previous quarters. High bandwidth requirements comprise the majority of sales for Flex, according to the company. MPLS, launched one year ago, is already among XO's top five selling products.

For more:
- XO 2Q08 financials

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