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GSI Commerce Posts Wide Loss

GSI Commerce Posts Wide Loss - Retail website operator GSI Commerce Inc (GSIC.O) posted a wider-than-expected quarterly loss, hurt by higher operating expenses, sending its shares down 7 percent in extended trade.

GSI Commerce, which competes with Amazon.com Inc (AMZN.O) and Art Technology Group Inc (ARTG.O) in the e-commerce business, expects full-year revenue of $1.35 billion, in line with analysts' estimates.

For the third quarter, GSI Commerce's net loss widened to $18.6 million, or 28 cents a share, from a loss of $9.4 million, or 18 cents a share, in the year-ago period.

Revenue rose 49 percent to $284.1 million.

Analysts on average expected a loss of 26 cents a share, on revenue of $281.6 million, according to Thomson Reuters I/B/E/S.

Total costs and expenses for the quarter rose about 52 percent to $304.4 million.

GSI Commerce Posts Wide Loss
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