Clearwire boosted revenues nine percent during the second quarter to $63.5 million and narrowed its pro forma net loss slightly to $73.4 million or 38 cents per share. Analysts from Thomson Reuters expected 39 cents per share and revenue of $65 million.

The Kirkland company, which is rolling out WiMax networks in 25 markets by the end of the year, finished the quarter with $2.5 billion in cash and short term investments.

CEO Bill Morrow said in a statement.

“We are ramping very well by attracting strong consumer demand for our wireless 4G services in all of our new markets. In fact, as we head into the third quarter with Las Vegas now launched we are already seeing average daily WiMAX subscriber uptake in July outpacing what we achieved in June by over 75 percent. It is important to keep in mind that at the same time we are posting strong adds in our three CLEAR 4G markets we are also seeing the expected customer attrition in Clearwire’s large base of 46 U.S. pre-WiMAX markets resulting from seasonality and minimal sales and marketing in advance of migrating those markets to CLEAR 4G in the coming months.”

Shares were down about seven percent in after hours trading. Clearwire said it expects its 4G network to cover 30 million people at the end of this year.

Those markets include: Atlanta; Baltimore; Boise; Chicago; Las Vegas; Philadelphia; Charlotte, Raleigh, and Greensboro, NC; Honolulu and Maui, HI; Seattle and Bellingham, WA; Portland and Salem, OR; and Dallas/Ft. Worth, San Antonio, Austin, Abilene, Amarillo, Corpus Christi, Killeen/Temple, Lubbock, Midland/Odessa, Waco and Wichita Falls, Texas.