Leap Wireless gave analysts a big surprise, posting second-quarter earnings of $7.5 million, or 12 cents per share, compared with earnings of $1.1 million, or 2 cents per share, in 2005. Analysts had expected a loss of 3 cents per share, but Leap added a surprisingly high number of customers. The operator, which offers a flat-rate prepaid service in various mid markets, said it added 58,000 customers in the quarter, compared with 2,700 customers in the second quarter 2005. Leap credited some of the increased to its expansion of service.
To read more about Leap's second-quarter results:
- check out this report from BusinessWeek