Nextel 3rd-Qtr Loss Narrows on Record New Customer Additions
--From AOL. Another impressive result!-- Cooters
Reston, Virginia, Oct. 26 (Bloomberg) -- Nextel Communications Inc., a nationwide wireless-telephone company controlled by Craig McCaw, said its third-quarter loss narrowed as it added a record 681,400 customers worldwide.
Reston, Virginia-based Nextel said it had a loss from operations of $184 million, or 31 cents a share after the payment of preferred dividends, compared with a loss of $312 million, or 55 cents after dividends, in the year-ago quarter. Analysts expected a loss of 37 cents, the average estimate of a survey by First Call/Thomson Financial.
Sales rose 59 percent to $1.42 billion from $889 million.
Nextel sells walkie-talkie service and wireless phone calls on one handset, drawing customers from financial trading desks and construction crews.
Nextel shares fell 12 percent on Oct. 5, after the company said it added fewer U.S. customers than forecast in the third quarter, sparking fears of slowing growth in the wireless industry.
Nextel fell $2.69 to $36.13 yesterday. Shares have fallen 30 percent this year.
Oct/26/2000 8:18 ET |
