Leap Wireless Shares Hit New Low
Leap Wireless International Inc. reported a steep increase in net departing customers in the second quarter, sending its stock price to a new low on Tuesday.
The pay-as-you-go wireless provider, which offers service under the Cricket brand, said Monday it is evaluating “all options,” including cost cuts and potential asset sales, as it attempts to turn around its business. In the quarter, Leap wasn’t able to add enough customers to offset higher service cancellations. It pulled back on promotions in order to put a larger effort into third-quarter product launches and marketing.
