MetroPCS Earnings More Than Double in Q3

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By Trey Thoelcke Published
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MetroPCS Communications Inc. (NYSE: PCS) this morning reported that its net income more than doubled in the third quarter, helped by a gain from a securities settlement and lower costs.

The wireless telecommunications carrier posted adjusted earnings per share (EPS) of $0.52 on revenues of $1.26 billion for the quarter. In the same period a year ago, the company reported EPS of $0.19 on revenues of $1.25 billion. The quarter’s results also compare to the Thomson Reuters consensus estimates for EPS of $0.26 and $1.25 billion in revenues.

Results included a $53 million gain on a settlement related to securities.The company had almost 9 million subscribers at the end of the quarter, down 2% year-over-year.

The chairman and CEO said:

Late in the third quarter, we launched 4G LTE For All and while still early, we are pleased with initial results, including customer upgrades and churn. As we enter the fourth quarter, our 4G LTE For All efforts are in full-swing and with over one million 4G LTE subscribers at the end of the third quarter, we believe we are well positioned to meet the current demands for high-speed wireless broadband service. During the fourth quarter, we plan to focus on re-energizing subscriber growth, which we expect will put incremental pressure on our CPGA and CPU.

The company reaffirmed its outlook for the full year. The Thomson Reuters consensus estimates call for EPS of $0.82 and $5.11 billion in revenues.

In early October, MetroPCS agreed to merge with the larger T-Mobile USA.

U.S. markets remain closed today. MetroPCS shares closed Friday at $10.59, in a 52-week range of $5.53 to $14.51. The mean price target before this report was $12.36.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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