Clearwire Outgrows Estimates

WiMAX operator clwr needed to demonstrate real traction with consumers in its launched markets, and they did so quite powerfully.  They added some 283,000 net new subscribers, of which 172,000 were retail additions, and 111,000 were via their wholesale partners.  That was more than double their Q4 surge of 133K, and well ahead of the sub-200K that most analysts had been looking for.  They finished the first quarter with 971,000 subscribers, which means that by now they have now certainly passed the 1M milestone, and their projection of more than 2M subscribers by the end of 2010 looks rather less daunting.

The company’s actual financials generally take a backseat to the speed of their rollout and their subscriber ramp, however revenues of $106.7M were up 33% from the fourth quarter, while loss per share rose to $0.47.  Both numbers were well ahead of estimates going in.  Clearwire had a fantastic quarter, but we should remember that the hill they are climbing so rapidly is both steep and very high.

Clearwire also announced the cities on-deck for launch this summer, here is a quick list:

KS	Kansas City
MO	St.Louis
UT	Salt Lake City
DC	Washington
TN	Nashville
FL	Daytona, Orlando, Tampa
NY	Rochester, Syracuse
CA	Merced, Modesto, Stockton, Visalia
DE	Wilmington
MI	Grand Rapids
OR	Eugene
WA	Yakima, Tri-Cities

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Categories: Financials · Wireless