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Global Crossing loss widens

(Bloomberg) ? Global Crossing Ltd., a fibre-optic communications network operator, reported a wider second-quarter loss of $76 million as sales dropped. The company?s net loss was $75 million a year earlier, Hamilton, Bermuda-based Global Crossing said in a statement distributed by PR Newswire. The company didn?t provide per-share figures. Revenue fell 7.6 percent to $461 million from $499 million.

Global Crossing has failed to turn a profit since exiting bankruptcy in December 2003 as sales of traditional phone services have declined. To compensate, chief executive officer John Legere is trying to boost Internet traffic over its networks. Shares of Global Crossing rose 11 cents to $15.26 at 11.01 a.m. New York time in Nasdaq Stock Market composite trading. They?ve fallen 4.8 percent this year.