Sprint 2Q loss expands, revenue flat

Jul 30, 2013

Wireless carrier Sprint's second-quarter losses grew while revenue held steady in its first earnings report under majority owner SoftBank.

Third-ranked Sprint Corp. lost more than 2 million , primarily due to the shutdown of the Nextel network. But it gained 412,000 subscribers by buying U.S. Cellular's business in the Midwest in May.

Sprint had 53.6 million subscribers by June's end, down from 55.2 million in March.

Net losses grew to $1.6 billion, or 53 cents per share. It lost $1.4 billion, or 46 cents per share, a year ago.

Excluding unexpected charges related to the Nextel shutdown, the adjusted loss came to 31 cents per share.

Revenue rose to $8.88 billion from $8.84 billion.

Analysts polled by FactSet expected a 30 cents-per-share loss on revenue of $8.69 billion.

Explore further: HP sales inch up while profit drops

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Sprint posts big 4Q loss, revenue rises

Feb 07, 2013

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.

Pandora posts in-line 1Q loss, upbeat sales

May 23, 2013

(AP)—Internet radio company Pandora reported higher-than-expected revenue in the latest quarter, with losses in line with analysts' forecasts, as the number of subscribers who pay for ad-free listening rose above 2.5 million.

Sprint loss widens on Nextel, iPhone lifts sales

Apr 25, 2012

(AP) -- The impending shutdown of the Nextel network doubled Sprint Nextel Corp.'s loss in the first quarter, it said Wednesday, as it wrote down the value of the network and subscribers kept leaving it.

Sprint Nextel slows subscriber loss in 4th quarter

Feb 10, 2010

(AP) -- Sprint Nextel says its subscriber losses slowed in the fourth quarter, an encouraging sign for the wireless carrier that has lost millions of customers over the past few years.

Recommended for you

Ticketfly buying WillCall for on-premise data

13 hours ago

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

Aug 20, 2014

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0