UPDATE: MetroPCS Posts Surge In Q4 Profit

MetroPCS Communications Inc (NYSE: PCS) posted a surge in its fourth-quarter earnings.

MetroPCS' quarterly profit climbed to $91 million, or $0.25 per share, from $14 million, or $0.04 per share, in the year-ago period. Its revenue surged 16% to $1.24 billion. However, analysts were expecting earnings of $0.16 per share on revenue of $1.24 billion.

MetroPCS' operating margin dropped to 17.4% from 19.4%.

MetroPCS shares closed at $10.28 yesterday.