Today MetroPCS posted strong third-quarter earnings, which saw the fifth largest cellular provider snag more than one million LTE subscribers on its network. The wireless company reported a net profit of $193 million, bringing in more than double the $69 million profit it recorded a year ago — on revenue of $1.3 billion, or 52 cents a share. Revenue was up by 4 percent year over year.
However, MetroPCS did lose 312,000 subscribers during the third quarter. Now it sits around a total of 9 million customers, with a million of those folks riding on its high-speed LTE network.
MetroPCS CEO Roger Linquist said in a statement:
Late in the third quarter, we launched 4G LTE For All and while still early, we are pleased with initial results, including customer upgrades and churn. As we enter the fourth quarter, our 4G LTE For All efforts are in full-swing and with over one million 4G LTE subscribers at the end of the third quarter, we believe we are well positioned to meet the current demands for high-speed wireless broadband service.
During the fourth quarter, we plan to focus on re-energizing subscriber growth, which we expect will put incremental pressure on our CPGA and CPU. With a robust 4G LTE handset line-up that is growing, we believe our 4G LTE For All initiative provides unmatched value, with all taxes and regulatory fees included.
With the company reporting a strong quarter, it’ll be interesting to see whether MetroPCS leverages its momentum by closing the acqui-merger with T-Mobile. The two companies were in discussions about a merger earlier this month.