Leap Wireless International Inc. Earnings: Loss Narrows
Leap Wireless International Inc.’s (NASDAQ:LEAP) fourth quarter loss narrowed, beating estimates. Leap Wireless International is a wireless communications carrier that offers digital wireless services in the United States under the Cricket brand.
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Leap Wireless International Earnings Cheat Sheet for the Fourth Quarter
Results: Loss narrowed to $84.4 million (loss of $1.10 per diluted share) from $249.4 million (loss of $3.28 per share) in the same quarter a year earlier.
Revenue: Rose 8.4% to $767.4 million from the year earlier quarter.
Actual vs. Wall St. Expectations: Leap Wireless International Inc. beat the mean analyst estimate of a loss of $1.12 per share. It fell short of the average revenue estimate of $808 million.
Quoting Management: “We had solid performance in the fourth quarter and are pleased with the operational progress the business has made,” said Doug Hutcheson, Leap’s president and chief executive officer. “Sales volume in the quarter generally followed broader retail trends, reflecting strong sales throughout the holiday selling season.”
The company beat estimates last quarter after falling short in the previous two quarters. In the third quarter, it missed the mark by 10 cents, and in the second quarter, it fell short by 37 cents.
Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. The average estimate for the first quarter of the next fiscal year is now at a loss of 94 cents per share, up from a loss of 97 cents. Down from a loss of $4.09 per share ninety days ago, the average estimate for the fiscal year is now a loss of $4.11.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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