<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the unaudited consolidated financial statements of McLeodUSA Incorporated and subsidiaries for the three and six months ended June 30, 1997 and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS 6-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 <PERIOD-START> APR-01-1997 JAN-01-1997 <PERIOD-END> JUN-30-1997 JUN-30-1997 <CASH> 285,032 285,032 <SECURITIES> 93,617 93,617 <RECEIVABLES> 41,026 41,026 <ALLOWANCES> 4,322 4,322 <INVENTORY> 3,342 3,342 <CURRENT-ASSETS> 423,318 423,318 <PP&E> 164,519 164,519 <DEPRECIATION> 10,908 10,908 <TOTAL-ASSETS> 751,214 751,214 <CURRENT-LIABILITIES> 47,829 47,829 <BONDS> 314,609 314,609 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 526 526 <OTHER-SE> 378,238 378,238 <TOTAL-LIABILITY-AND-EQUITY> 751,214 751,214 <SALES> 46,523 82,270 <TOTAL-REVENUES> 46,523 82,270 <CGS> 27,563 48,763 <TOTAL-COSTS> 27,563 48,763 <OTHER-EXPENSES> 33,809 63,022 <LOSS-PROVISION> 819 1,321 <INTEREST-EXPENSE> 7,039 9,486 <INCOME-PRETAX> (16,496) (29,851) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (16,496) (29,851) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (16,496) (29,851) <EPS-PRIMARY> (0.31) (0.57) <EPS-DILUTED> (0.31) (0.57)