UPDATE 1-Clearwire reports narrower quarterly loss

* Quarterly revenue up 47 percent at $60.8 million.

* Shares fall 2.5 pct

NEW YORK, Nov 10 (Reuters) - Clearwire Corp (CLWR.O) posted higher revenue and a narrower quarterly loss as the high-speed, wireless Internet service provider gained more subscribers.

The company, founded by wireless pioneer Craig McCaw, said on Monday it had a third-quarter loss of $166.6 million, or $1.01 per share, compared with a loss of $328.6 million, or $2.01 a share, in the same quarter a year earlier.

The year-ago results included a $159.2 million charge related to debt extinguishment.

Excluding items, its loss narrowed to 93 cents a share from 95 cents a share.

Service revenue increased by 47 percent to $60.8 million. Analysts on average expected revenue of $55.3 million, according to Reuters Estimates.

Clearwire, which uses an emerging high-speed technology known as WiMax, is planning a wireless joint venture with Sprint Nextel Corp (S.N).

Clearwire said its subscriber base increased to around 469,000 by the end of the third quarter, up from 348,000 a year earlier.

Clearwire shares fell 2.5 percent to $7.84. (Reporting by Ritsuko Ando; Editing by Brian Moss)