UPDATE 2-Clearwire posts net loss but revenue grows

Revenue rose 21 percent to $62.1 million, slightly below the average analyst estimate of $62.9 million, according to Reuters Estimates.

Clearwire, which introduced WiMax services in Portland, Oregon, in the quarter, said it had a surprisingly high 25,000 net subscriber additions in the first quarter, bringing its total subscriber base to 500,000.

UBS analyst John Hodulik said in a research note that he had expected net additions of 20,000.

But the company said net customer additions would be weaker in the current quarter due to a typical spike in involuntary customer disconnections at the end of the school year.

Clearwire told analysts on a conference call that it would increase its workforce despite the weak economy, as it works on expanding its network.

The company said it still plans to expand its WiMax service to 80 markets covering a potential 120 million customers by the end of 2010 but Morrow said this could change depending on the availability of capital.

Clearwire did not give a reason for West's departure from his role as president to head international business but said on the conference call with analysts that its focus is on the U.S. business.

West and Satterlee were not immediately available for comment.

West, who is seen as a WiMax pioneer and led development of that technology at Sprint, also served as chief technology officer of Nextel Communications before it was bought by Sprint in 2005.

Clearwire also announced the appointment as chief commercial officer of G. Michael Sievert, previously CEO of Switchbox Labs, which was bought by Lenovo Group (0992.HK).

It said that Kevin Hart, previously chief information officer of Level 3 (LVLT.O), would take that role at Clearwire. It named Laurent Bentitou, formerly of T-Mobile USA, as its chief people officer, responsible for increasing staffing.

Clearwire shares closed down 60 cents, or 10 percent, at $5.09 on Nasdaq on Wednesday and were little changed after-hours following its earnings report. (Reporting by Sinead Carew; Additional reporting by Ritsuko Ando; Editing by Ted Kerr, Gary Hill)