Leap Wednesday reported a 2012 fourth-quarter revenue of $756 million, which fell short of the street by $23.62 million. But fourth quarter EPS beat estimates by $0.61, coming in at a loss of 96 cents per share.
Net subscriber losses for the fourth quarter hit 337,000, a marked increase over the 269,000 subscribers Leap lost in the previous quarter.
Leap, which operates Cricket Wireless, blamed the subscriber losses on the discontinuation of its PAYGo service, a narrowed focus in national retail and a continued de-emphasis on broadband.
Leap’s fourth quarter Average Revenue Per User (ARPU) rose to $42.73, up annually from $42.09 and ahead of a 2012 third-quarter ARPU of $41.94.
Reported 2012 capital expenses of $434 million fell below Leap’s estimates of $450-$470 million. The company predicts CapEx for 2013 to fall within a $275-$325 million range, citing $39 million of that amount going toward restructuring charges.
Leap reported it had settled its wholesale dispute with Sprint and that it had recently entered a nationwide LTE roaming agreement with an unnamed carrier.
The company’s stock today fell more than 7 percent following today’s earnings report.
