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MetroPCS Posts Subscriber, Profit Gains

5/03/2011 02:50:45 PM Eastern
Dallas - Flat-rate prepaid carrier MetroPCS posted its best-ever quarterly increase in net new subscribers in the first quarter.

The carrier also posted a 23 percent gain in revenues to $1.19 billion, a 38 percent gain in operating income to $145 million, and a 149 percent gain in net income to $56 million.

The number of net new subscribers grew 21 percent to 726,000 from the year-ago gain of 691,000, bringing the subscriber base to 8.88 million.

In other metrics, the company said it reduced first-quarter churn rate to 3.1 percent from a year-ago 3.7 percent and boosted its average revenue per subscriber (ARPU) to $40.42 from a year-ago $39.83. The percentage of subscribers using a smart phone grew to about 20 percent.

In an investors' conference call, executives said they currently offer 4G LTE service in all of their 14 core markets and will begin testing Voice over LTE technology by the end of the year.
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