Clearwire gets bigger; so does its Q1 losses

Clearwire Corp. may be on the cusp of a planned WiMAX revolution with Sprint in the future but, like its primary partner in its new joint venture, is struggling in the here and now.

After market close yesterday Clearwire reported losses of $176 million, or $1.08 per share, nearly double its losses in the quarter a year ago, despite revenue that increased some 76 percent to $51.5 million. Clearwire said the losses were due to its expansion in seven large markets.
 
Not all the news was bad. The company said its subscriber base grew 72 percent from a year ago, ending the quarter with some 443,000 subscribers.
 
It's deal with Sprint, Google and cable TV partners is expected to close in the fourth quarter. Sprint just reported losses of $500 million in the quarter and saw 1 million subscribers get out of Dodge.
 
For more:
- Read the Associated Press story in BusinessWeek

Suggested Articles

On Monday, AT&T acknowledged for the first time that DriveNets is indeed providing core-networking routing software for its next-gen core network.

Microsoft is taking direct aim at telcos by announcing Azure for Operators, which includes a carrier-grade cloud platform and edge compute capabilitie

Rogers Communications really, really wants to get its hands on Cogeco, despite being told there's no interest to sell from Cogeco.