Clearwire’s Quarterly Loss Narrows

WiMax, Clearwire Corp.’s trump card wireless network, has been finding its way into a variety of new cities, a development that has reversed Clearwire’s sagging fortunes by providing a much-needed boost in revenue. Rolling out its high-demand wireless network, Clearwire hopes to be present in 25 markets by the end of the year compared to its current four markets.
 
Clearwire’s main partner is Sprint Nextel Corp., which has begun to implement Clearwire’s 4G WiMax technology into its cellular phones. Together with Sprint, Clearwire hopes to return to profitability, after posting a $73.4 million loss this quarter and $74.6 million in losses this time last year.
 
Clearwire also experienced an 11 percent increase in subscribers, sending the number of Clearwire customers to 511,000, but even this number of net additions was lower than it was last year. However, the company has stated that the fourth quarter should bring in more subscribers than all three of the last quarters brought in combined.

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