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Tuesday, February 26, 2013

MetroPCS net profit falls 65 pct, revenue growth slows, (NYSE: PCS)

MetroPCS Communications Inc reported a 65 percent fall in quarterly net profit and revenue growth slowed for an eighth straight quarter as the U.S. wireless service provider prepared for its planned merger with Deutsche Telekom AG unit T-Mobile USA.The company, which faces shareholder opposition to the deal, said on Tuesday that subscriber numbers on its older CDMA network suffered while it focused on expanding its newer high-speed wireless service based on Long Term Evolution technology.MetroPCS is still seeking regulatory as well as shareholder approval for the merger.MetroPCS, a provider to cost-conscious consumers who pay for calls in advance, plans to phase out the older service after the deal with T-Mobile USA, which is also betting its future on LTE.

MetroPCS Communications, Inc. provides wireless personal communication services. Shares of PCS fell by 0.82% or $-0.08/share to $9.68. In the past year, the shares have traded as low as $5.53 and as high as $14.51. On average, 6842590 shares of PCS exchange hands on a given day and today's volume is recorded at 1616898.