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Hot Stock - (NYSE:PCS) Beat Estimates, Shares Down
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MetroPCS Communications, Inc. (NYSE:PCS) gapped down over 4.38% to $6.33 in opening trade after it reported third-quarter net income of $73.6 million, or 21 cents a share, up from $44.9 million, or 13 cents, earned in the same period during 2008. Quarterly revenue generated by the Dallas-based provider of wireless telecommunications reached $895.6 million from the prior year's $686.7 million. Analysts' consensus forecasts, as compiled by FactSet Research, had been for MetroPCS to earn 10 cents a share on sales of $871 million. The company tallied net subscriber additions of about 66,000 in the latest quarter, down from nearly 250,000 in the year-earlier period, as its subscriber base topped 6.3 million at the end of September.
MetroPCS Communications, Inc. (MetroPCS) is a wireless communications provider that offers wireless broadband mobile services under the MetroPCS brand in selected metropolitan areas in the United States over its own licensed networks or networks of entities, in which the Company holds a substantial non-controlling ownership interest.
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