During a Wednesday conference call about the company’s first-quarter financial results, Clearwire Corp reported a 72 percent increase in its year-on-year revenue for the quarter. While the company’s revenue figures were $62 million in the same quarter last year, the figures this time round stood at $107 million.
The revenue figures posted by Clearwire – the shares of which rose 5.8 percent - beat the Wall Street estimates, and resulted from a stronger-than-expected demand for its WiMAX high-speed wireless service.
In addition, Clearwire, which is approximately 55 percent owned by Sprint Nextel Corp, added as many as 283,000 new subscribers during the first quarter; surpassing the 192,000 new subscribers’ figure estimated by four analysts polled by Reuters.
Impressed by at Clearwire’s customer growth and its outlook for service revenue, Roe Equity Research analyst Kevin Roe said: “I'm very pleased with the progress in the first quarter. This is more positive. This will give the Street more confidence in the Clearwire story.”
In addition to reporting noteworthy first-quarter results, Clearwire is expecting a nearly six-month advantage - in terms of bringing high-speed cellphones on the market - over top US carrier Verizon Wireless; and is likely to begin selling two WiMAX phones by 2010-end.
According to the information forwarded by Clearwire, both the handsets will be Android-based – while one will be a HTC device; the other will be a Samsung device.