Leap picks up subscribers in fourth quarter

They’ve been working on their financial data for over a month now, so it makes sense that Leap is the first fourth quarter report we’ve seen. They announced an expected turnaround for the quarter, so there were plenty of expectations to meet. And they didn’t do too badly for themselves, adding 152,000 net customers during the quarter, which is leaps and bounds above what they had been doing previously. This adds the yearly net additions up to about 634,000. Churn rate was at 4.2 percent, not bad for a prepaid service. We can foresee this number going down as Cricket expands into new regions. A huge complaint about Leap is that by traveling out of your home calling area, you incur roaming fees. With more networks set up around the country, Cricket might soon be able to offer roaming for free on their own network. The company’s stock hit the $40 mark in aftermarket trading yesterday. The company is climbing further away from their 52-week low of $29.87, though they’re down from $49.85, which they hit following their three-year restatements. As it stands, Leap now has 2.86 million customers between Cricket and Jump Wireless. [Forbes]]]>