MetroPCS uncorks record quarter, regional wireless provider boosted by economic uncertainty
January 6 2009 - 12:37 pm ET | Allie Winter | RCR Wireless News
It looks like MetroPCS Communications Inc. may be cashing in on the current economic downturn. The no-contract, unlimited wireless provider said it added 520,000 customers during the fourth quarter of 2008, its highest quarterly net additions in the company’s history. The growth put the carrier’s total customer count at 5.4 million subscribers, a 74% increase from the fourth quarter of 2007.
The carrier added 1.4 million subscribers over the course of 2008, a 37% increase from 2007.
“During the fourth quarter and for the full year 2008, our strong subscriber growth continues to prove the resiliency of the MetroPCS business model in the midst of the current unprecedented economic environment,” said Roger Linquist, MetroPCS' chairman, president and CEO.
Further, MetroPCS managed to nab those extra subscribers despite a higher churn rate. The carrier reported 5.1% churn during the fourth quarter of 2008, an increase from the 4.8% churn posted during the final three months of 2007.
MetroPCS has big plans for 2009. The carrier said it plans to launch in new markets including Boston and New York this year. Also, the carrier recently announced it entered into a reciprocal roaming agreement with rival Leap Wireless International Inc. covering 300 markets across the U.S.
MetroPCS is expected to release full fourth quarter results next month.
The wireless provider’s stock was up slightly on the news to around $16 per share.
January 6, 2009 03:07 pm
Cant wait for Metro to come to NY. They are going to clean T-mobile's clock. Who would want to sign a contract with third rate service like the T now? Bye, bye Tmobile.
January 6, 2009 03:07 pm
It just keeps getting better. All of the markets they do have, the 2 biggies they are currently working on, and free roaming in all of Leaps' markets. All for $45 a month. It can't be beat, which is why I recently switched from AT&T. Not everyone needs all of the expensive wizbang stuff they love to push, and their joke of an unlimited plan price ($99-139 a month!!!) I could not wait for my 2 year contract to end. The last thing I wanted was another, which I don't have with Metro either. I love my service, and my price. I think I may get some stock as well.