MetroPCS reports profitable first quarter
In a period where the economic future is still uncertain, MetroPCS managed to rise to the occasion by reporting strong growth. They acquired approximately 684,000 new subscribers for the first quarter that ended March 31, 2009. It looks like a good chunk of people are deciding to go the no contract route rather than signing on for a two-year no escape route. This seems quite logical if you take into consideration that there are no penalties for canceling service with the no-contract giant. Net earnings came in at $44 million, or 12 cents per share during Q1 which was up 11 percent from $39.5 million when compared to the same period last year. Even with the stellar reports, they missed their target estimates due to stiff competition with other similar services offered by Boost Mobile. Still, the coverage is always growing so they can expand to more areas in the future.