MetroPCS: Down 37 Percent In One Day

August 3, 2011 3:45 am

We spotted this today:

“The share price for MetroPCS (PCS) ended trading for the day down 37% after the company missed Wall Street forecasts for its sales, earnings and subscriber growth.

MetroPCS said its net earnings were 23 cents per share in the second quarter, below the Thomson Reuters consensus analyst forecast of 29 cents.

The company also reported that it added almost 200,000 subscribers in the second quarter. Ben Abramovitz, an analyst for Kaufman Bros., said that was a bit higher than his own estimate of 195,000 new subscribers, though it fell short of Wall Street’s consensus forecast for 230,000 to 240,000 new customers.”

Statistics Source: CNN Money

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