Wednesday, August 4, 2010

MetroPCS' Q2 Revenues at $1 Billion, Up 18% YoY

MetroPCS Communications reported quarterly revenue of $1.0 billion, an increase of approximately 18% over second quarter of 2009. MetroPCS finished the quarter with 7.6 million mobile subscribers.

"The outstanding operational and financial results for the second quarter were primarily a result of strong net subscriber additions and lower churn primarily driven by continued acceptance of our Wireless for All plans. Strong operational results and net subscriber growth of approximately 1.4 million subscribers over the past 12 months resulted in record consolidated Adjusted EBITDA for the company of over $322 million, up approximately 38% from the second quarter 2009. We continue to build our 4G LTE network, and we are currently testing in selected metropolitan areas. We are on track for our initial 4G LTE launch in selected metropolitan areas in the second half of this year. Our goal is to provide our pay-in-advance subscribers a 4G experience equivalent to that which will be enjoyed by traditional post-pay customers," said Roger D. Linquist, Chairman, President and Chief Executive Officer of MetroPCS.