MetroPCS, the pre-paid US wireless specialist that is on the verge of being taken over by T-Mobile USA, has reported revenues of USD1.259 billion for the three months ended 30 September 2012, an increase of 4% year-on-year. Net income increased by 178% from USD69 million to USD193 million over the same period, while adjusted EBITDA rose 42% to USD466 million. However, despite significant improvements to its bottom-line the cellco reported that its subscriber base fell 2% y-o-y from 9.149 million to 8.979 million, with net addition of 69,384 failing to counter the loss of 312,291 users during the July-September period.
Roger D Linquist, chairman and CEO of MetroPCS, commented: ‘With a primary focus on generating adjusted EBITDA and cash flow during the third quarter, we are pleased to report the highest adjusted EBITDA margin in company history of 41.5%. 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 … Our recently announced proposed business combination with T-Mobile is exciting as it will create a value leader in wireless with a clear path to offering 4G LTE service over 20×20MHz. It also provides MetroPCS customers with broader network coverage and deeper spectrum as well as the ability to gain full access to a broad array of handsets and services’.