Earnings Report: Clearwire Corp. Reports 93% Q2 Revenue Boost Year over Year

Clearwire Corp. (NASDAQ:CLWR) posted Q2 results following the closing bell Wednesday afternoon, reporting revenue of $122.5 million, a 93% boost from the year-ago period.

The company received a 231% boost year-over-year in total subscribers, which was 1.7 million in Q2, and the company's retail subscriber base rose to 940,000.

commented CEO Bill Morrow, "As of today, Clearwire has more than one million wholesale subscribers and just under one million retail subscribers on the country's first 4G network, By the end of 2010 we now expect to have approximately 3 million total subscribers, a significant increase from our previous guidance of just over 2 million subscribers. The pent up wave of demand for mobile broadband service is evident, and Clearwire is riding our expanding 4G network and growing wholesale distribution model towards a promising second half of 2010."

SmarTrend currently has Clearwire in an Uptrend and is currently monitoring these developments and will alert subscribers to any change of trend.

Clearwire is currently above its 200-day moving average (MA) of $7.12 and should find resistance at its 50-day MA of $7.37.

In the last five trading sessions, the 50-day MA has fallen 1.38% while the 200-day MA has slid 0.36%.

Shares of the wireless broadband services provider closed Wednesday's trading session at $7.16.

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