Clearwire (CLWR) opened way down today trading as low as $26.47. But, late in the day, the shares made a sharp turn north and closed up almost 3% at $29.52. Just after hours, Clearwire jumped another 2%.
Someone on Wall St. thought the recent WiMax IPO was going to report a good quarter.
On a consolidated basis, Clearwire’s second-quarter service revenue more than doubled to $35.5 million from $15.4 million in the same quarter of 2006. The First Call consensus was $33.26 million
The company had a net loss of $118 million. or $.72 a share. Wall St. was hoping for a $.60 loss.
The company did show some growth in its WiMax subscriber base. Clearwire reported approximately 41,000 net subscriber additions for the quarter ended June 30, 2007. The increase brings the total subscriber base to 299,000, a 130 percent increase over the subscriber base at the end of the second quarter of 2006, and a 16 percent sequential quarter increase.
It was not the quarter investors were looking for
Douglas A. McIntyre
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
