On Wednesday, Clearwire Corp. reported a loss in quarterly earnings, as it spent heavy amounts on expansion of its high-speed wireless network, but its revenue was well ahead of the estimates pegged by analysts.

Clearwire, in which Sprint Nextel Corp. has a majority ownership, reported a loss of $98.7 Million, or 55 cents a share, compared with the loss figure of $90.4 Million, or 47 cents a share, posted for the same quarter for the previous year.

Revenue for the past year's fourth quarter, however, surged to $79.9 Million from the previous year's figure of $59.7 Million.

Average expectation pegged by analysts was $76.4 Million.

Shares closed at $6.98 on Tuesday, and were inactive premarket. The stock has more than doubled the past year.