Clearwire adds 49K new WiMAX users in Q3
Apparently it’s no longer “premature” to break out mobile WiMAX subscriber numbers — at least now that there is an impressive number to talk about. According to its third-quarter financials press release, WiMAX provider Clearwire signed up 49,000 users for its new, mobile “4G” WiMAX service during the third fiscal quarter, a big, important leap from the embarrassing number of 12,000 net new adds for Q2.
Granted, Clearwire did have the helping hand of a lot of new markets in Q3 as well as the reseller power of Sprint and Comcast — no details on those numbers in the press release but maybe more “color” is coming in the conference call, which starts in 15 minutes. According to the release, Clearwire lost 5,000 subscribers from its pre-WiMAX service, putting the total net adds for Q3 at 44,000 — still a healthy jump. We’ll update this post afterwards.
UPDATE: From the conference call, Clearwire CEO Bill Morrow said “it’s still too early” to break out wholesale subscriber numbers, but at least this time he spun the reason as being too early to allow financial analysts to build stable, predictive models on any wholesale subscriber numbers. Fair enough. Of more import, Clearwire did announce a bond offering and debt restructuring that will roughly give the company another $200 million in usable capital. Clearwire said on the call that the $1.54 billion raised in its latest financing round (which was confirmed officially today as expected) and the cash from the bond offering will allow it to finance its current build-out plan for 2010 “without any hiccups.”
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