updated 09:35 pm EST, Tue January 24, 2012
Clearwire starts recovering with cost cuts
Clearwire on Tuesday showed a significant recovery from near death with early estimates of its results. It swung from a loss in the summer to net positive earnings in the fall, owed directly to adding more subscribers and cost-cutting. The 4G provider expected to have gained 900,000 total customers, or an 11 percent jump just in one season.
Raw revenue intake had doubled from a year ago to $362 million.
The company is still facing a long-term battle and has offered $300 million in stock to help fund a transition to LTE-based 4G. If successful, however, it promises to both compete with AT&T and Verizon as well as raise the possibility of Clearwire becoming a full phone carrier instead of the data-only service dictated by the natures of WiMAX and current LTE.