It’s a time of transition in the wireless industry, and Clearwire remains a pawn in the ongoing battle as Sprint, Verizon, AT&T and T-Mobile look to bolster their networks. Today, Clearwire offered a few clues of where it is at, posting revenues of $313 million during the third quarter. That was down from $316 million for the previous quarter, and off from $332 million for the same period last year.
The decline was tied to its wholesale business.
Meanwhile, the operating loss came in at $332 million, up from $311 million in the previous quarter, but down from $399 million for the same period last year. Clearwire ended the quarter with 10.5 million, up from 9.5 million.
“Recent developments in the U.S. wireless industry serve as a direct reminder of the key strategic role deep spectrum resources and a global LTE ecosystem will play in the long-term success of any 4G mobile broadband operator,” said Clearwire CEO Erik Prusch. “Clearwire’s unmatched spectrum assets and focus on serving major population centers will be the foundation on which we will build a critical 4G LTE network positioned to serve the needs of the industry and the rapidly growing base of 4G customers across the country.”
Earlier this month, Sprint increased its stake in Clearwire, regaining a majority share. Clearwire finished the quarter with cash and cash equivalents of $1.2 billion.
Full earnings report here.
