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Leap Hears Crickets in Q3

7:30 AM -- The changes Leap Wireless International Inc. (Nasdaq: LEAP) announced in its second-quarter earnings haven't yet had an effect in the third quarter as the prepaid carrier lost nearly 200,000 subscribers, compared to the addition of 116,182 it reported this time last year. (See Leap Revamps Prepaid With Tiered Data.)

That brought Leap's total churn to 5.5 percent for the quarter, up slightly from 5.4 percent last year.

The company has a big task in front of it as, in effect, it completely overhauls its business. Leap's vice president and COO Al Moschner recognizes it's going to be a long haul for Leap to gain ground in an increasingly competitive prepaid space. He sat down with Light Reading Mobile in September, soon after Leap announced its revamped strategy, to talk about the road ahead. Check out the video here.

Leap's prepaid competitor and Long Term Evolution (LTE) first mover MetroPCS Inc. (NYSE: PCS) reports its third-quarter earnings tomorrow.

— Sarah Reedy, Senior Reporter, Light Reading Mobile

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