Tuesday, October 11, 2011

Clearwire -- 29% Sequential Growth in Wholesale Subscribers

Clearwire updated its guidance for the financial community noting strong growth in wholesale 4G subscribers during Q3. The new figures:

  • Record quarterly revenues of approximately $332 million are expected for the third quarter 2011, representing an increase of approximately 126% year over year.

  • Net wholesale subscriber additions are expected to total a record 1.9 million for third quarter 2011, representing approximately 29% sequential growth in ending wholesale subscribers. Third quarter 2011 ending subscribers are expected to be approximately 9.5 million.

  • As a result of growth of its subscriber base and reductions in operating expenses, Clearwire expects to have improved Adjusted EBITDA loss by more than 50% in third quarter 2011 as compared to pro forma Adjusted EBITDA loss in second quarter 2011.

  • Cash, cash equivalents and investments as of September 30, 2011 are expected to be approximately $700 million.