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Leap Makes Gains But Reports Q1 Loss

Leap Wireless International Inc. (Nasdaq: LEAP) reported a net loss of $96.2 million for its first quarter, which ended March 31, owing to upfront costs associated with customer device upgrades. (See Leap Reports Q1.)

The regional CDMA provider added 331,000 new customers to its consumer-facing brand Cricket Communications during the quarter, giving it 5.8 million customers overall.

Leap's net loss equated to $1.26 per share, on revenues of $779.9 million. In the first quarter a year ago, it reported a net loss of $68 million, 90 cents per share, on revenues of $654 million.

Wall Street analysts expected a loss of $1.06 a share on revenue of $737.7 million, according to Thomson Reuters .

Shares of Leap are up 3 cents (0.2%) at $15.10 in early after-market trading.

— Sarah Reedy, Senior Reporter, Light Reading Mobile

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