RESTON, Va.—Nextel Communications added 1.99 million subscribers during 2001, ending the year with 8.7 million wireless subscribers and said it expects to add another 2 million customers this year.
Domestic revenues for the year increased more than 30 percent from 2000 to $7 billion, with fourth quarter domestic revenue of $1.88 billion. Net losses increased from $680 million in 2000 to $845 million last year.
Customer churn for the fourth quarter was reported at 2.2 percent, slightly above expectations of around 2.1 percent, with average revenue per user of $69.
Nextel also reported capital expenditures of $2.3 billion for 2001, noting it added 2,800 domestic cell sites during 2001 and six switches. The carrier said the additional capacity was needed to accommodate the 65 percent increase in minutes of use on the network compared with 2000 to 51.9 billion minutes.
