Tuesday, May 3, 2011

Clearwire Adds 1.8 Million Users in Q1

Clearwire announced record quarterly net subscriber additions of 1.8 million; including 1.6 million wholesale, and 155,000 retail customers.

Clearwire now has a customer base of 6.15 million - 1.29 million retail subscribers and 4.86 million wholesale subscribers – using its 4G WiMAX service.

"During the quarter we made good progress toward our objective of achieving positive EBITDA in 2012 by executing new agreements with Sprint, delivering strong post-pay subscriber growth and company-best wholesale revenue growth, as well as significantly lowering our operating costs," said John Stanton, Clearwire's Chairman and interim CEO.

Erik Prusch, Clearwire's Chief Operating Officer added, "Looking ahead, we expect to work closely with Sprint and all of our other wholesale partners to expand our 4G leadership and capitalize on our rich spectrum holdings that enable us to meet the exploding customer demand for mobile broadband internet access. Since the beginning of the year, our network has experienced a 40% increase in network usage due to expanded coverage, record subscriber growth and higher usage per device."

Clearwire now expects to end 2011 with approximately 9.5 million subscribers, with most of those subscribers coming from its wholesale business. This is an increase from the previous guidance of 8.8 million subscribers provided in February 2011. The Company continues to expect capital expenditures in 2011 to be less than $400 million.