Clearwire gave some preliminary results for the first quarter, announcing "record subscriber growth" of 52,000 customers in the first quarter to bring the total number of subscribers to 258,000. The number represents a 25 percent increase from its year-end 2006 customer base of more than 206,000 customers. In the fourth quarter 2006 Clearwire added 44,000 net adds. Churn was approximately 1.6 percent for the quarter.
Shares of Clearwire, which bills itself as the world's largest WiMAX class service provider, have fallen about 29 percent since they began trading on March 8 as investors are concerned about the company's heavy spending requirements. But the stock rose $1.30 to $17.74 after Clearwire's announcement.
Of Clearwire's subscribers, more than 232,000 are domestic U.S. customers; 48,000 of its net adds were within the U.S. during the first quarter, compared with 40,000 domestic users added during the final quarter of 2006. Clearwire also offers service in Ireland, Belgium and Denmark.
Clearwire said that it will release full first-quarter results after the market closes on May 8, with its first investor conference call on the following day.
For more about Clearwire's preliminary first-quarter results:
- check out this release