Investment losses and the Sprint Nextel 4G business merger pulled down Clearwire’s Q2 earnings. The high-speed wireless Internet services provider reported a net loss of $199.1 million compared with a net loss of $118.1 million a year earlier.

Today’s results included $27.9 million in impairment losses on investments and $10.2 million in expenses related to the pending Sprint WiMAX merger.

However, revenue jumped to $58.6 million as the service provided added 18,000 subscribers, ending the quarter with 461,000 total subscribers. The operator’s average revenue per user (ARPU) increased 3.6% to $39.28.

Churn rose to 2.6% from 2% last quarter.