Clearwire Posts Huge EPS Beat; Revs Disappoint (CLWR)

Clearwire Corporation (CLWR) reports Q3 earnings of $0.58 versus consensus of $0.61 loss. Clearwire Corporation reports revenues of $147 million versus consensus of $157.94 million. "This quarter we saw continued strong demand for the nation's first 4G mobile broadband service, which drove a record 1.23 million new subscribers for an ending third quarter subscriber base in excess of 2.84 million. Due to this phenomenal growth, we now believe we will end this year in excess of 4 million total subscribers, nearly doubling our original 2010 expectation of just over 2 million," said Bill Morrow, Clearwire's CEO. Clearwire ended the third quarter with 2.84 million total subscribers, consisting of 1.01 million retail subscribers and 1.83 million wholesale subscribers. Clearwire continues to expect to reach up to 120 million people with its 4G network by the end of 2010. The Company now expects retail CPGA to be in the mid $400's for the full year 2010, an improvement from the previous guidance of retail CPGA in the low $500's for the full year. In addition the company now expects average retail ARPU to be above $42 for the full year 2010, an improvement from its previous guidance for retail ARPU to be over $41 for the full year. Shares of CLWR are higher in the after-hours by 0.14%.