Clearwire (CLWR) reported better-than-expected Q1 results.
For the quarter, the WiMax service provider reported revenue of $106.7 million, up 72% from a year ago, and ahead of the Street at $97.2 million. The company lost 47 cents a share in the quarter, not quite as bad as the Street consensus at a loss of 51 cents.
The company said it added 283,000 net new subscribers in the quarter, increasing the total to 971,000.
Clearwire said it still expects to finished 2010 with a service area covering 120 million people, and with total subscribers of more than 2 million people. The company said cost per gross add will be in the mid-$500 range, consistent with 2009 levels.
The company expects net cash outlay this year of between $2.8 billion and $3.2 billion as it continues to build out the network.
Clearwire says it expects to launch WiMax smartphones before year-end 2010 from both HTC and Samsung.
CLWR in late trading is up 14 cents, or 1.9%, to $7.70.
No comments:
Post a Comment