MetroPCS 4Q losses widen on charge

28 Feb 2008

US wireless operator MetroPCS Communications yesterday reported that fourth-quarter losses widened as it took a charge on investments that had fallen in value. The operator said net losses in the fourth quarter to 31 December 2007 reached USD47.2 million, up from a loss of USD23.1 million in the corresponding period of 2006. Excluding the impact of one-off items, MetroPCS’s earnings came in at USD36 million. Quarterly revenues climbed 30% year-on-year to USD591.1 million from USD453.1 million last year, but fell short of Wall Street estimates of USD608 million. The company added 300,000 subscribers in the period under review and closed out the year with 3.96 million customers, up 35% y-o-y.

United States, Metro by T-Mobile (formerly MetroPCS)