Nextel reported 2nd-quarter net income of $309 million, more than...
Nextel reported 2nd-quarter net income of $309 million, more than double its $123 million a year ago, and said revenue jumped 19% to $2.6 billion. It said it added 591,000 subscribers in the quarter for a total of 11.7…
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million and its customer churn improved to 1.6%, “the best since 1998.” Nextel said its average revenue per user jumped $2 from the first quarter to $69, and total min. of use on the Nextel National Network grew 34% to 24.5 billion. Nextel CFO Paul Saleh said the company was “ahead of [its] expectations” and had revised its financial guidance for the full year. It said it expected to have a free cash flow of $600 million or more, up from $500 million, and operating income before depreciation and amortization of $3.9 billion or more, up from $3.8 billion. It also predicted it would add 1.9 million or more net subscribers, up from 1.7 million.