Clearwire, the Kirkland company working with Sprint Nextel to build a high-speed Internet network, said its third-quarter loss narrowed on subscriber gains.

Share story

Clearwire, the Kirkland company working with Sprint Nextel to build a high-speed Internet network, said its third-quarter loss narrowed on subscriber gains.

The net loss shrank to $166.6 million, or $1.01 a share, from $328.6 million, or $2.01, a year earlier, Clearwire said Monday. Sales advanced 47 percent to $60.8 million, beating the $55.4 million average of estimates compiled by Bloomberg News.

Clearwire, founded in 2003 by wireless-industry pioneer Craig McCaw, added 8,000 subscribers in the quarter for a total of 469,000. The company, which is using a technology called WiMax to offer Web access in competition with cable and phone-service providers, also received more revenue on average per customer.

The company is on track to close its combination with Sprint Nextel’s Xohm unit by the end of the year, Chief Executive Officer Benjamin Wolff said on a conference call. Clearwire’s shareholders are scheduled to vote on the deal Nov. 20.

The companies won regulatory approval this month for the combination. Intel, Comcast, Time Warner Cable, Bright House Networks and Google will invest $3.2 billion in the new business.

Clearwire shares dropped 34 cents, or 4.2 percent, to $7.70 Monday. The stock has fallen 44 percent this year.