RESTON, Va.-Nextel Communications Inc. posted $2.3 billion in revenues for the recently completed third quarter, an increase over the $1.8 billion reported for the same quarter last year. Net income also increased from a loss of $209 million, a loss of 27 cents per share, to a profit of $526 million, a return of 55 cents per share.
For the quarter, Nextel said it added 480,000 net subscribers, which put the carrier over the 10 million total customer threshold at 10.1 million subscribers at the end of the quarter. Customer churn was reported at 2 percent with average revenue per user of $71, both in-line with analysts’ expectations.