UPDATE 3-MetroPCS posts higher quarterly profit

giovedì 7 maggio 2009 20:12

* Q1 adj EPS $0.08 vs est $0.09: Reuters Estimates

* Q1 EBITDA up 12 percent

* ARPU falls 5 pct, churn rises

* Reaffirms subscriber forecast for the year (Adds details, CFO and analyst comments, updates share movement)

By S. John Tilak

BANGALORE, May 7 (Reuters) - Low-cost wireless carrier MetroPCS Communications Inc PCS.N reported a higher quarterly profit, boosted by strong growth in its new markets such as New York and Boston.

However, the company's shares, which had gained 19 percent so far this year, slumped as much as 10 percent.

The sell-off was due to profit-taking and not because of any concerns over the results, Soleil/Nelson Alpha Research analyst Michael Nelson said, noting that the stock had gained 5 percent over the last six trading days.

For the first quarter, the company reported a 12 percent rise in consolidated adjusted earnings before interest, taxes, depreciation and amortization to $199 million.   Continua...