Virgin Mobile Falls Way Short of 4th Quarter Subscriber Goals!

A little over a year after going public, Virgin Mobile continues to perform poorly. In their 4th quarter they added 209,669 net subscribers far short of their 400,000 estimate. The company also signaled that their Q1 net subscriber adds will continue to be poor, sighting the poor economy and less disposable income.

The news was not taken well by Wall Street, with a huge dip in the stock price! The stock fell by over $2 a share after this announcement, from a little over $4 to just over $2. A far cry from their $15 plus price of 6 months ago. To be fair this trend seems to be common in the telecommunications sector with other Telco companies like Sprint, IDT, and Verizon also falling on tough times.