MetroPCS Climbs on Strong Earnings

MetroPCS

traded as high as $8.73 today on earnings, reporting EPS of $0.41 versus estimates of $0.21 while revenues grew to $1.28B beating estimates of $1.26B. CEO Roger D. Linquist commented “During the second quarter, we focused on generating Adjusted EBITDA and cash flow versus subscriber growth as we position for our anticipated launch of 4G LTE For All by the end of the third quarter. I'm pleased to report that with this emphasis, we reported both the highest Adjusted EBITDA as well as the highest Adjusted EBITDA margin in Company history as a result of this focus. Second quarter churn of 3.4% was primarily driven by continued investments in our network as well as lower year-to-date subscriber growth." MetroPCS is currently trading at $8.49, up $2.24 or 35.19%.