Leap Wireless, hurt by investments, posted a second- quarter loss...
Leap Wireless, hurt by investments, posted a second- quarter loss of $26.1 million. The company said “new initiatives,” which included its service expansion to cover an additional 8 million people and the launch of wireless Internet service. Total revenue…
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rose 19.4 percent to $474.9 million but fell short of analysts’ average estimate of $483.4 million. Churn fell to 3.8 percent from 4.3 percent a year earlier, the company said. Customer activity is solid overall during the economic downturn, CEO Doug Hutcheson said on a conference call. The company is expecting “significant improvements” in long-term customer penetration and financial contribution from its major investments, he said. - YW