Clearwire posts 93% Q2 revenue increase; net losses continue to rise

5 Aug 2010

US telco Clearwire has reported revenues of USD122.5 million for the three months ending 30 June 2010. The figure represents a 93% increase from the USD63.6 million generated in 2Q09. However, net losses continued to rise, up 116% from USD241.4 million to USD520.7 million. Clearwire, which launched its first WiMAX network in August 2004 explained: ‘We are an early-stage company with a history of operating losses and we expect to continue to realise significant net losses for the foreseeable future’. Clearwire added 127,000 retail subscribers in Q2, raising the overall retail figure to 940,000. In terms of wholesale additions, Clearwire added 595,000 users, taking its total to 752,000. As of 30 June 2010, Clearwire reported a total subscriber base of 1.7 million.

Clearwire CEO Bill Morrow commented: ‘As of today, Clearwire has more than one million wholesale subscribers and just under one million retail subscribers on the country’s first 4G network. By the end of 2010 we now expect to have approximately three million total subscribers, a significant increase from our previous guidance of just over two million subscribers. The pent up wave of demand for mobile broadband service is evident, and Clearwire is riding our expanding 4G network and growing wholesale distribution model towards a promising second half of 2010’.

United States, Clearwire