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Clearwire Loss Shrinks As Wholesale Revenues Decline
Published on:
USA based Clearwire reported that its third quarter revenue declined slightly year over year to US$313.9 million primarily due to a year over year decline in wholesale revenue from its partner, Sprint Nextel.
Adjusted EBITDA in third quarter 2012 was a loss of US$38.3 million, an improvement on the loss of US$46.4 million a year ago.
Clearwire ended third quarter 2012 with approximately 10.5 million total subscribers, up 10% from 9.5 million subscribers in third quarter 2011. The subscriber base consists of 1.4 million retail subscribers and 9.1 million wholesale subscribers, reflecting 21,000 retail net subscriber adds and 489,000 wholesale net subscriber losses during third quarter 2012. Wholesale subscribers consist primarily of Sprint 3G/4G smartphone customers.
Third quarter 2012 capex of US$34 million related primarily to ongoing maintenance of Clearwire's mobile WiMAX network and the deployment of the LTE network, and increased $10 million and $17 million, respectively, as compared to $24 million in second quarter 2012 and $17 million of capex in third quarter 2011.
Outlook
Clearwire continues to expect total revenue of $1.2 to $1.3 billion for full year 2012. The company expects 2012 Adjusted EBITDA loss of approximately $150 to $200 million.
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