Leap Wireless pulled in 318,000 net new subscribers during its first quarter, which is nearly triple what the carrier added during the same quarter last year. Its total subscriber base now stands at 2.5 million, according to the carrier. Leap also saw gains in its service revenues, which were up 51 percent to $326.8 million. ARPU jumped 9 percent to $45.52 as nearly 66 percent of its customers are on plans that cost $45 per month or higher. Churn increased slightly to 3.4 percent, up from 3.3 percent and the carrier expects churn to reach between 4.1 percent and 4.4 percent in the coming quarter. Leap also reported a loss of $8.1 million, down from the $17.7 million profit it posted this time last year.
The carrier plans on launching service in new markets to cover an additional 3 million potential subscribers, which would bring its total coverage to 51 million POPS. While Leap does not expect to top its subscriber addition metric during the next quarter, it does expect to add another 125,000 to 175,000 subscribers.
For more on Leap Wireless:
- check out this press release