Shares of Clearwire have been on a turbulent course in recent weeks. And the company today saw yet another double digit change — this time for the better — as it reported a jump in subscribers and revenues during the third quarter.
The Kirkland-based provider of wireless broadband now as 9.54 million total subscribers, up 240 percent from 2.81 million subscribers during the same period last year. More than eight million of those subscribers come through Clearwire’s wholesale partners, including Sprint. And by the end of this year, the company said it plans to top 10 million subscribers.
As a result of the boost in subscribers, revenue increased 134 percent to $332.2 million.
In a release, CEO Erik Prusch noted that the results “demonstrate that our efforts to optimize performance are succeeding.”
Meanwhile, the company trimmed its net loss to $84 million, down from $139 million.
In other developments, the company announced that all of the Clear 4g Internet plans now come with no long-term commitments and unlimited Internet access.
Shares of Clearwire were up 10 percent, trading at $2.04. But the company is not out of the woods yet, as it is still seeking additional funding in order to build out a high-performance LTE network.
Full release here.