We're literally swimming in earnings reports this week, and the latest released comes from MetroPCS. The breakdown sees $1.3billion revenue for the quarter, and profits of $149million for the same period. This all comes despite subscriber numbers actually going down by around 200,000.
LTE seems to be the winner for the carrier though, with LTE subscriptions now sitting at 700,000, a massive increase from the Q1 numbers. If there was ever any doubt, LTE is absolutely a priority for the future:
Importantly, we should have a full 10MHz dedicated to 4G LTE in most major metropolitan areas by the end of the year. Our 4G LTE handset ecosystem is building and we remain on track to launch 4G LTE For All by the end of the third quarter. During the fourth quarter, we expect our 4G LTE For All initiative to lead to a return to subscriber growth.
As usual with earnings reports, the document in full is long and goes into just about every detail imaginable. The highlights of the report though read as follows.
- Quarterly consolidated total revenues of approximately $1.3 billion, an increase of 6% over the second quarter of 2011
- Quarterly service revenue of approximately $1.2 billion, an increase of 4% over the second quarter of 2011
- Record Adjusted EBITDA of $477 million, an increase of 33% over the second quarter of 2011
- Record Adjusted EBITDA margin of 41.1%, an increase of 900 bps over the second quarter of 2011
- Quarterly net income of $149 million, an increase of 77% over the second quarter of 2011
- Quarterly churn of 3.4%, down 50 bps from the second quarter of 2011
- Quarterly net subscriber loss of 186 thousand, resulting in a 2% increase in total subscribers over the prior twelve month period
- Quarterly ARPU of $40.62, an increase of $0.13 over second quarter 2011
- Surpassed 700 thousand 4G LTE subscribers, representing approximately 8% of total subscribers
If earnings reports are your thing, you'll find the full release at the source link below to browse through at your leisure.