Leap loses nearly 300,000 subscribers in Q2

The second quarter was not kind to Cricket Wireless. The company lost 289,270 customers, which is nearly three times more than the 103,000 they lost in Q2 2011 and far greater than the expected losses. Rival MetroPCS also lost many subscribers in Q2, but actually saw its stock rise due to revenue gains. Cricket came in below revenue expectations, due to what they claim is failed customer retention programs. The blog Seeking Alpha argues that Leap Wireless might explore a sale of Cricket — but remember, they’re a blog that seeks page views. It seems like nothing but speculation at this point. But, given Cricket’s results this year, a 41 percent reduction of its market value, the speculation isn’t too far off base.

Related Posts

Leave a Reply