Clearwire warned investors about this in its IPO filing: that it would incur significant losses as it builds out its broadband wireless network. Still, investors were spooked after the company announced its first-quarter results that reflected a loss of $92.6 million, or 64 cents a share, compared with a loss of $55.3 million, or the equivalent of 73 cents a share, a year ago. Shares of Clearwire fell 75 cents, or 4 percent, to $18.25 after the announcement.
The company signed on 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.
For more about Clearwire's results:
- check out this report from AP