Nextel Communications posted large gains yesterday as the Reston-based company and other leading cellular phone providers reported growth in new subscribers. Nextel reported its ninth consecutive profitable quarter on a large increase in revenue. It is the smallest of the six national carriers but generates the largest profit margins in the business. It said profit quadrupled to $1.3 billion on revenue of $3.3 billion during its second quarter ended June 30, compared with $281 million on revenue of $2.6 billion during the same period a year ago.
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Nextel Reports Big Rise in Profit
Posted by: Yuki Noguchi July 22, 2004 02:08 PMNextel Communications posted large gains yesterday as the Reston-based company and other leading cellular phone providers reported growth in new subscribers. Nextel reported its ninth consecutive profitable quarter on a large increase in revenue. It is the smallest of the six national carriers but generates the largest profit margins in the business. It said profit quadrupled to $1.3 billion on revenue of $3.3 billion during its second quarter ended June 30, compared with $281 million on revenue of $2.6 billion during the same period a year ago.