Clearwire said last Wednesday that its loss widened in the first quarter since the company went public, blaming the slide largely on costs tied to expanding its network into new markets. Its shares fell 4 percent.
Now first the numbers:
For the three months ended March 31, Clearwire lost $92.6 million, or 64 cents a share, versus a loss of $55.3 million, or the equivalent of 73 cents a share, a year ago.
Revenue, including fees for service, equipment and other sales, rose to $29.3 million from $22.8 million last year.
On average, analysts polled by Thomson Financial had forecast a loss of 58 cents per share on revenue of $28.66 million.
The company said it had signed on about 52,000 new subscribers in the first quarter, bringing its total customer base to roughly 258,000. Clearwire said it ended the quarter with networks in more than 375 cities and towns in the U.S. and Europe.
Shares of Clearwire fell 75 cents, or 4 percent, to $18.25 Wednesday. The stock is down more than 25 percent since the company’s IPO on March 8.
With the ever growing competition of Wifi, UMTS, HSDPA & Edge networks I will let you draw your own conclusions….