Nextel 3Q Net Up 69%; Raises '04 Outlook

RESTON, Va. (Dow Jones) Nextel Communications Inc.'s (NXTL) third-quarter net income jumped 69%, beating Wall Street's per share earnings expectations, as it showed strong demand across all sectors, especially in government, high-end individuals and its Boost Mobile business.

The wireless services provider also raised 2004 earnings guidance above Wall Street's estimates and previous expectations.

In a press release Friday, Nextel said its net income rose to $588 million, or 52 cents a share, from $348 million, or 32 cents a year ago, a year ago.

A Thomson First Call survey projected earnings of 38 cents a share for the quarter.

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Posted to the site on 22nd October 2004