MetroPCS today announced second-quarter earnings that showed year-over-year profits nearly tripling to $80 million, or 22 cents a share. That’s up from $26 million, or 7 cents, a year earlier. Total revenue jumped 18 percent to $1.01 billion.
Average revenue per user (ARPU) fell slightly to $39.84 for the second quarter, which represents a decrease of 68 cents when compared to the second quarter of 2009 and an increase of $0.01 when compared to the first quarter of 2010.
According to a press release, the prepaid carrier rode the popularity of its “Wireless for All” plans, which feature unlimited talk, text and Web, to this quarter’s impressive numbers. The company reported adding just over 300,000 customers, finishing the quarter with 7.6 million subscribers.
“The outstanding operational and financial results for the second quarter were primarily a result of strong net subscriber additions and lower churn primarily driven by continued acceptance of our Wireless for All plans,” said Roger Linquist, chairman, president and CEO of MetroPCS, in a statement.
Churn decreased 250 basis points from 5.8 percent to 3.3 percent, when compared to the second quarter of 2009.
The company said that it is on track to rollout its 4G LTE network in “selected metropolitan areas” in the second half of this year.
MetroPCS recently slashed its pricing plans, doing away with taxes and fees. The move resulted in unlimited $40, $45, $50 and $60 plans that offer a range of features and services. The company also expanded its device portfolio to include a wider range of handsets, including smartphones.