At the end of Q3 the US company had a total of 9.6 million global subscribers. Nextel’s consolidated revenue grew by 30% to $1.99 billion compared with $1.53 billion generated during the third quarter of 2000.
The growth in the company’s number of subscribers enabled it to beat analysts’ expectations for the quarter, posting a loss of only $209 million.
During the quarter, Nextel made strategic progress by reducing the domestic churn rate to the lowest among the national wireless carriers and continuing a strong cash flow conversion ratio. Not only did we generate record domestic EBITDA of $526 million, but we also demonstrated solid improvement in capital efficiency. Nextel ended the third quarter with approximately $5.7 billion in total liquidity, which is ample to fund our current business plan, said Paul Saleh, Nextel’s executive vice president and chief financial officer.
