San Diego-based NextWave Wireless Inc. (NASDAQ: WAVE) has reported its first quarter earnings for the three months ending March 31st. Revenues increased by 98.4 percent year-on-year to $7.746 million, up from $3.905 million in Q1 2006. Most of the revenue was from its PacketVideo subsidiary. The operating loss more than doubled, increasing by 115.1 percent year-on-year to $41.066 million, up from $19.096 million a year earlier. NextWave’s net loss more than tripled, climbing from $15.443 million in the first quarter of 2006 to $49.619 million for the first quarter of 2007, an increase of 221.3 percent.
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