Sprint posts higher revenues but widening losses

26 Apr 2012

Sprint Nextel has posted revenue for the first quarter of USD8.73 billion, up 5% year-on-year, on the back of strong iPhone sales and the full impact of a USD10 per month surcharge on smartphones. Excluding tablet sales the company added a net 263,000 post-paid subscribers to its Sprint network compared with approximately 240,000 for Verizon Wireless and 7,000 for AT&T. However, contract subscriber additions overall actually fell to 192,000 when including Sprint’s legacy Nextel network, which runs on iDEN technology and which is due to be shut down next year. Depreciation of the Nextel network contributed to a widening in Sprint’s net loss, down to USD863 million for the first quarter of this year compared with a loss of USD439 million in the corresponding period last year.

United States, Sprint Corporation (now part of T-Mobile US)