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April 19, 2007

Clearwire announces subcriber growth

Posted by Tricia Duryee at 10:57 AM

Following two dismal days of significant stock declines, Kirkland-based Clearwire issued a press release today saying it will release first-quarter financial results May 8.

It also pre-announced the number of subscribers it added in the first quarter, sending its stock upward.

Clearwire saw record subscriber growth in the quarter, adding more than 25 percent and ending the period with 258,000. Clearwire also said its consolidated subscriber churn was about 1.6 percent in the first quarter.

Most of the subscriber additions occurred in the U.S., ending the quarter with 232,000 customers in this country. The increase of 48,000 subscribers in the U.S. was also a company record, exceeding the approximately 40,000 subscribers added in the fourth quarter. Churn in the U.S. was about 1.5 percent in the first quarter.

At last check, the company's stock had increased almost a dollar to $17.40 a share. Remember that the company went public last month at $25 a share.

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Tricia Duryee
Tricia Duryee
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