MetroPCS Q3 Tops Street; Stock Rallies - Eric Savitz (Barron's)

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MetroPCS Q3 Tops Street; Stock Rallies
Nov 05, 2009 01:56 PM UTC

Eric Savitz (Barron's)

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Via BARRONS.com: Tech Trader Daily - Barron's Online:

MetroPCS (PCS) shares are headed higher this morning after the pre-paid wireless operator reported better-than-expected Q3 results.

For the quarter, the company posted revenue of $896 million, ahead of the Street at $869.4 million, and up 30% from a year ago. Adjusted EBITDA was up 35% to $272 million. EPS was 21 cents a share, well ahead of the Stret at 9 cents. The company added more than 66,000 net new subscribers in the quarter. One weak note: churn increased to 5.8% from 4.8% a year ago.

Rival Leap Wireless (LEAP) will report results for the quarter after the close of trading this afternoon.

This morning, PCS is up 43 cents, or 6.5%, to $7.05.

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