MetroPCS Communications Reports 23% Rise In Q1 Revenue

MetroPCS Communications Inc PCS reported a more than two-fold surge in its first-quarter net income. The company's Q1 net income came in at $56.4 million, or $0.15 per share, versus $22.7 million, or $0.06 per share, in the year-ago period. The company's revenue increased to $1.19 billion from $970.5 million. The company's average revenue per user increased 1.5% year-over-year to $40.42. PCS shares fell 2.08% to close at $16.48 yesterday. Read more from Benzinga's Company news.