Leap and MetroPCS Suffer Low New Subscriber Numbers
Both MetroPCS (NYSE:PCS) and Leap (NASDAQ:LEAP) suffered losses in share value by as much as 9 percent each following reports of added new subscribers in the last quarter of 2011 that did not meet analysts’ forecasts.
Wednesday afternoon, Leap reported adding 175,000 new customers during that time, while analysts projected additions of 195,000 or more. Thursday, MetroPCS reported similarly disappointing new subscriber numbers, with 197,000 rather than the 214,000-250,000 hoped for by analysts.
Here’s how these stocks reacted to the news:
MetroPCS Communications, Inc. (NYSE:PCS): PCS shares recently traded at $8.01, down $0.78, or 8.87%. They have traded in a 52-week range of $7.51 to $18.79. Volume today was 13,873,662 shares versus a 3-month average volume of 4,715,680 shares. The company’s trailing P/E is 13.09, while trailing earnings are $0.61 per share.
Leap Wireless International Inc. (NASDAQ:LEAP): LEAP shares recently traded at $8.57, down $0.63, or 6.85%. They have traded in a 52-week range of $5.50 to $17.66. Volume today was 3,238,356 shares versus a 3-month average volume of 2,070,870 shares. The company’s trailing earnings are $-6.28 per share.
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