MetroPCS Earnings Fall But Sales Grow

MetroPCS (PCS), one of telecom’s biggest IPOs ever, didn’t fare as well as analysts had hoped in the third quarter of 2008.

Industry observers expected MetroPCS to report earnings of 15 cents per share, but it came in with 13 cents per share. Still, MetroPCS reported earnings of $45 million. That was down from $53 million a year earlier.

The no-contract wireless provider also saw sales increase in the third quarter – revenue jumped 23 percent, from $557 million to $687 million. A quarter of that growth stemmed from service revenue.

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