Sprint posts big 4Q loss, revenue rises

Feb 07, 2013 by Peter Svensson

Sprint Nextel, the country's third largest wireless carrier, says it lost $1.3 billion in its fourth quarter, about the same as a year ago, as it revamped its network for a comeback versus bigger competitors.

The Overland Park, Kan., company lost 44 cents per share in the October to December period versus 43 cents per share in the previous year.

The loss was slightly smaller than analysts had predicted. The average Wall Street forecast as polled by FactSet was 46 cents per share.

Revenue was $9 billion, up 3.2 percent from a year ago and slightly above of $8.9 billion.

Long-ailing Corp. has agreed to sell 70 percent of itself to . of Japan for $20 billion. That deal is expected to close this summer.

Explore further: Google's new CFO gets $70M for defecting from Morgan Stanley

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