Leap: Revenues jump, profits dive

10 Nov 2009

Leap Wireless International has reported a 20.6% year-on-year rise in revenues for the third quarter of 2009, up to USD599.5 million from USD496.7 million. Meanwhile, operating income before depreciation and amortisation (OIBDA) for the three months ended 30 September 2009 totalled USD121.5 million, a 24.6% increase from USD97.5 million a year earlier. However, the company saw its third quarter net loss widen from USD47.3 million in 2008 to USD65.4 million in 2009, due in part to capital expenditure of USD151.6 million in the quarter. Operating expenses increased to USD597.5 million for Q309, up from USD493.9 million a year earlier. Leap ended September 2009 with 4.66 million mobile customers, up from 3.46 million at the end of Q308, the firm added 116,000 net new subscribers in the three months ended 30 September 2009.

United States, Leap Wireless International