Leap losses widen as churn increases

Revenue at Leap Wireless rose 6% in the first quarter compared with the corresponding period last year after the company added 258,000 net new wireless subscribers during the three months under review. However, the cellco’s net loss attributable to common stockholders slipped to USD98.4 million, down from USD96.2 million, on the back of higher monthly churn, up to 3.3% from 3.1% last year. Leap, which has traditionally focused on the lower-cost market, is facing increased competition in the pre-paid customer segment

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OVETEL Leap losses widen as churn increases