NEW YORK (Reuters) - Clearwire Corp (CLWR.O) posted a wider quarterly loss as costs rose, but revenue grew as the provider of high-speed wireless Internet service added new subscribers.
The company, founded by wireless pioneer Craig McCaw, said on Thursday that it had a second-quarter loss of 199.1 million, or 1.21 per share, compared with a loss of 118.1 million, or 72 cents per share, in the year ago quarter.
Excluding certain impairment losses and transaction-related expenses, Clearwire posted a loss of 98 cents a share compared with average analyst expectations for a loss of 93 cents a share, according to Reuters Estimates.
Clearwire, which uses an emerging high-speed technology known as Wimax, said it is on track to set up a wireless venture with Sprint Nextel Corp (S.N) in the fourth quarter.
Revenue rose to 58.6 million from 35.5 million a year ago. Analysts on average had expected revenue of 54.58 million, according to Reuters Estimates.
Clearwire said it still backs its previously announced target for 2008 revenue of 205 million to 215 million.
Clearwire said its customer base had increased to 461,000 at the end of the second quarter from 299,000 a year ago.
(Editing by Carol Bishopric, Richard Chang)
The company, founded by wireless pioneer Craig McCaw, said on Thursday that it had a second-quarter loss of 199.1 million, or 1.21 per share, compared with a loss of 118.1 million, or 72 cents per share, in the year ago quarter.
Excluding certain impairment losses and transaction-related expenses, Clearwire posted a loss of 98 cents a share compared with average analyst expectations for a loss of 93 cents a share, according to Reuters Estimates.
Clearwire, which uses an emerging high-speed technology known as Wimax, said it is on track to set up a wireless venture with Sprint Nextel Corp (S.N) in the fourth quarter.
Revenue rose to 58.6 million from 35.5 million a year ago. Analysts on average had expected revenue of 54.58 million, according to Reuters Estimates.
Clearwire said it still backs its previously announced target for 2008 revenue of 205 million to 215 million.
Clearwire said its customer base had increased to 461,000 at the end of the second quarter from 299,000 a year ago.
(Editing by Carol Bishopric, Richard Chang)
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