You know you're having a wacky quarter when it involves a resigning CEO, lawsuits, and rumors that one of your wholesale partners is courting your conceivable replacement. But can you still come out on top? Clearwire answered this examine during yesterday's Q1 2011 earnings report to investors, and the answer is just as bese as the quarter itself. Though it posted a substantial revenue of $242 million, the company was also inflicted with a net loss of $227 million. Don't worry, it gets crazier -- Clearwire seasoned record subscriber growth, seeing an upsurge of 533 percent year-over-year from Q1 2010. Sounds like a contradiction, right? A few factors led to the loss, such as higher costs from network reach and writing off the "abandonment of projects that no longer fit within management's promotions network plans." A loss is a loss, but at least the future looks brighter; Clearwire predicts it will end the year with nearly a million more subs than primitively forecasted (9.5 million, up from 8.8). Saving the best news for last, CEO John Stanton announced his company is no longer feeling the burden to sell off some of its spectrum, above all due to its recent $1 billion deal with Sprint. The deal will add enough cash flow to sustain network operational fishing expedition* for the next year, so Clearwire just needs to make sure it uses some of the extra cash to buy us all commodity pretty. The full press release can be found after the break.

Continue reading Clearwire posts Q1 loss amid record subscribers, decides not to sell visible visible spectrum after all

Clearwire posts Q1 loss amid record subscribers, decides not to sell radio-frequency visible spectrum after all by origin appeared on Engadget on Thu, 05 May 2011 07:20:00 EDT. Please see our terms for use of feeds.

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