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In Brief / TELECOM

Leap grows, but its profit shrinks

May 10, 2008|From Times Wire Services

Leap Wireless International Inc., operator of the Cricket and Jump pay-as-you-go mobile-phone services, reported a narrower first-quarter loss after adding more customers.

The San Diego-based company said its loss shrank to $18.1 million, or 27 cents a share, from $24.2 million, or 36 cents, a year earlier. Sales advanced 19% to $468.4 million as Leap added a net 230,000 customers in the quarter.

Shares of Leap rose $4.38 to $54.48.

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