Leap Wireless reports Q2 losses
02 August 2013 |
US provider Leap Wireless has reported a Q2 2013 net loss of $163 million, a significant increase from $41.6 million for the same period in 2012.
Operating under the Cricket brand, Leap Wireless’ revenue for the quarter fell from $786.77 million to $731.5 million, and last month it agreed to be acquired by AT&T.
According to reports, Leap said these net losses reflected tough competition in the market, and the ever increasing demand for 4G.
Last year, Leap completed a spectrum exchange with Verizon, and analysts believe AT&T is overpaying for Leap Wireless because of the access to these spectrum licences, which will enable the US multinational to expand its next generation wireless networks.