Goldman Sachs Comments On MetroPCS Communications' Q1 Results (PCS)

Goldman Sachs provided color on MetroPCS Communications PCS following its Q1 results in a research report published today. In the report, Goldman Sachs states, "MetroPCS reported 1Q2011 service revenues of $1.05bn, +2.2%/+3.0% vs. our/consensus estimates. Adjusted EBITDA of $285mn compared to our/consensus estimate of $313mn/$306mn, while EPS of $0.15 was below our/consensus estimate of $0.20/$0.19. PCS raised 2011 capex targets, and now expects $700mn-$900mn (from $650mn-$800mn previously)." Goldman currently has a Neutral rating on MetroPCS. In today's trading, MetroPCS surged 8.31% to $17.85.