Millennial Media narrows losses for third quarter in a row, reports $47.4M in revenue, loss of $1.8M

Mobile ad network Millennial Media is continuing its slow march to profitability. The company reported $47.4 million revenue for Q3 2012 ending Sept. 30, up 88 percent year-over-year, and 20.3 percent over Q2’s revenues of $39.4 million. The company’s net loss for the quarter was $1.8 million, a small improvement over Q2’s $2.2 million.

Although the company has narrowed its losses in every quarter since it went public in March, the company is still losing more money now then it did a year ago.

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