14 DAY TRIAL // US carrier MetroPCS announced its financial results for the second quarter of the ongoing year and posted US$26 million in profits, 48 percent lower than the US$50 million reported in the same time frame a year ago. In addition, the company also announced that its second quarter revenues went up to US$860 million, a 27 percent increase compared to the second quarter a year ago.
According to the operator, the lower profits were the result of the ramping up of operations in the Northeast Markets and of an increase in launch expenses. In addition, the company also announced that it registered a growth in Consolidated Adjusted EBITDA of 11 percent, to $234 million, and that it managed to end the quarter with a number of around 6.3 million subscribers.
“During the quarter we focused on increasing brand awareness and delivering value to our subscribers. With our continued subscriber growth, we are now the fifth largest facilities-based wireless carrier and the largest regional facilities-based wireless carrier in the U.S. On a consolidated basis, we reported the highest Adjusted EBITDA in company history and, across all our markets we saw strong gross additions during the quarter,” Roger D. Linquist, chairman, president and chief executive officer of MetroPCS, stated.
Other highlights from the company's announcement include consolidated service revenues of $767 million for Q2, marking a 28 percent increase on a yearly basis, a decrease in income from operations of 15 percent year-on-year, ARPU of $40.52 for the quarter, a $1.53 drop compared to the second quarter of last year, and an increase in churn rate from 4.5 percent in Q2 2008 to 5.8 in the second quarter of 2009.
“After a full quarter of Northeast Market results, we are pleased with this segment’s performance, highlighted by net subscriber additions of approximately 193 thousand during the second quarter. We continue to buildout and expand our network and increase distribution in parts of New York, New Jersey, Pennsylvania, Massachusetts and Connecticut, significantly enhancing our footprint beyond the initial launch footprint,” Roger D. Linquist added.