Clearwire Earnings: Here’s Why Shares are Down Now
Clearwire Corporation (NASDAQ:CLWR) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.60%.
Clearwire Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.33 in the quarter versus EPS of $-0.40 in the year-earlier quarter.
Revenue: Decreased 1.44% to $318 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Clearwire Corporation reported adjusted EPS loss of $0.33 per share. By that measure, the company missed the mean analyst estimate of $-0.23. It beat the average revenue estimate of $306.23 million.
Quoting Management: “Our ongoing focus on driving our retail business cash contribution, controlling costs and maintaining liquidity continues to yield results,” said Erik Prusch, President and CEO of Clearwire. “Our day-to-day focus on delivering for our customers and the substantial progress on the TDD-LTE network build demonstrate the company’s commitment to execution during this transition period.”
Key Stats (on next page)…