Sprint reports 2Q13 revenues of USD8.88bn; LTE network extended to 41 new markets

30 Jul 2013

US mobile giant Sprint Corporation has reported net operating revenues of USD8.877 billion for the three months ended 30 June 2013, up slightly from the USD8.843 billion booked in 2Q12. In terms of operating income, Sprint posted a loss of USD874 million, compared to a loss of USD629 million during the corresponding period in 2012. Adjusted OIBDA for the period under review was USD758 million, down from USD1.267 billion one year earlier. Sprint reported a net loss of USD1.597 billion for the second quarter, compared to a net loss of USD1.374 billion in 2Q12. The company noted that ‘accelerated depreciation’ of USD782 million and non-cash charges of USD184 million ‘related to the thinning of the Nextel platform’ (see below) contributed to its weaker bottom line.

In operational terms, Sprint served 53.588 million wireless customers at the end of June 2013, broken down as 30.624 million post-paid subscribers, 15.254 million pre-paid users and 7.710 million wholesale and affiliate subscriptions. Meanwhile, Sprint counted 3.855 million ‘connected devices’ on its network by mid-2013, with the bulk of them (3.057 million) said to be wholesale connections. In 2Q13 Sprint suffered a quarter-on-quarter net subscriber loss of around 2.034 million customers, although the majority of these (1.315 million) were attributed to the now defunct iDEN ‘Nextel’ platform, which was switched off on 30 June. Sprint notes that more than four million Nextel subscribers were ‘recaptured’ by the central Sprint platform since its ‘Network Vision’ project commenced in early 2011.

In other news, the cellco has announced that it has extended its in-deployment Long Term Evolution (LTE) network to 41 new markets, including Philadelphia (Pennsylvania), the Bronx and Brooklyn (New York), Grand Rapids (Michigan), Jacksonville (Florida), Nashville (Tennessee), Oakland (California) and Portland (Oregon).

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