Clearwire Posts Q1 Loss

Clearwire LLC (Nasdaq: CLWR) reported a net loss of $227 million for the first quarter as the 4G provider struggled to find funding and shut down much of its retail presence. It added 1.8 million new customers in the quarter, 1.6 million wholesale and 155,000 retail, bringing its total to 6.15 million. (See Clearwire Reports Q1.)

The WiMax wholesaler lost 93 cents a share on revenue of $242 million. A year earlier it reported a loss of $94 million, or 47 cents a share, on revenues of $106.7 million.

Analysts polled by Thomson Reuters expected a loss of 53 cents per share on revenue of $237 million.

Shares of Clearwire are down 11 cents (2%) at $5.01 in after-market trading.

— Sarah Reedy, Senior Reporter, Light Reading Mobile

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