Latest in Business

Image credit:

MetroPCS breaks 1 million LTE customers, makes $193 million profit despite losing 312,000 users in Q3

Share
Tweet
Share
Save

Sponsored Links

MetroPCS might be the smaller of the two parties in the proposed merger with T-Mobile, but it certainly knows how to coin a profit in difficult times. The carrier recorded a massive $193 million net profit this quarter, $44 million more than it made in Q2, despite losing 312,000 subscribers in the three month period. The reason behind the rosy numbers was a combination of cash-saving exercises and canny investments in securities, pushing total revenue to $1.3 billion. The network now has just under nine million customers, with more than a million of those subscribing to one of the company's LTE packages. It's also managed to reduce churn down to 3.7 percent, a reduction of 0.8 percent since Q3 2011. CEO Roger D. Linquist remarked that the next quarter will see the business "re-energize" subscriber growth at the expense of its bottom line -- probably wise, given that it's lost just over half a million customers in the last six months.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share
Save

Popular on Engadget

The best mobile devices for students

The best mobile devices for students

View
‘Streets of Rage 4’ is shaping up to be a worthy sequel

‘Streets of Rage 4’ is shaping up to be a worthy sequel

View
'Beyond’ delivers the ‘No Man’s Sky’ experience I was waiting for

'Beyond’ delivers the ‘No Man’s Sky’ experience I was waiting for

View
iDevices' Alexa-powered smart light switch finally goes on sale

iDevices' Alexa-powered smart light switch finally goes on sale

View
Apple Music's latest playlist suggests new tracks every day

Apple Music's latest playlist suggests new tracks every day

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr