The Sprint Nextel Corporation, the wireless phone provider, said Wednesday that it gained subscribers in its latest quarter, the first such increase in three years, as it continued to improve customer service and retention.
However, it is still losing the most lucrative customers, those who sign two-year contracts, and posted a wider loss for its second quarter because of tax issues.
Sprint gained a net 111,000 subscribers in the April to June period, compared with a loss of 257,000 in the same quarter last year. It said it expected to keep adding wireless subscribers for the rest of the year, and reduce the number of contract customers who leave.
Sprint still lost 55,000 subscribers under its own brands in the latest quarter, but made up for that by adding 166,000 wholesale and affiliate subscribers, who buy access to the network through resellers.
It lost 228,000 contract subscribers, a figure much improved from the 991,000 it lost in the same quarter last year.
Sprint has been hemorrhaging subscribers nearly constantly since its 2005 acquisition of Nextel. That network, incompatible with Sprint’s, is valued for its walkie-talkie-like push-to-talk function, but is poorly suited to smartphones, and subscribers have been leaving every year. http://jodnet.blogspot.com
The rate of contract subscribers canceling service every month was 1.85 percent in the quarter. That was the company’s lowest figure ever, though it was still higher than the corresponding figure at AT&T and Verizon Wireless.Sprint ended the quarter with 48.2 million subscribers.
Its quarterly loss amounted to $760 million, or 25 cents per share. That compares with a loss of $384 million, or 13 cents per share, a year earlier.
Analysts who took into account a change in Sprint’s tax treatments were on average expecting a loss 24 cents per share, according to the company.
Revenue slipped 1 percent to $8.03 billion. Analysts expected $8.0 billion in revenue.
However, it is still losing the most lucrative customers, those who sign two-year contracts, and posted a wider loss for its second quarter because of tax issues.
Sprint gained a net 111,000 subscribers in the April to June period, compared with a loss of 257,000 in the same quarter last year. It said it expected to keep adding wireless subscribers for the rest of the year, and reduce the number of contract customers who leave.
Sprint still lost 55,000 subscribers under its own brands in the latest quarter, but made up for that by adding 166,000 wholesale and affiliate subscribers, who buy access to the network through resellers.
It lost 228,000 contract subscribers, a figure much improved from the 991,000 it lost in the same quarter last year.
Sprint has been hemorrhaging subscribers nearly constantly since its 2005 acquisition of Nextel. That network, incompatible with Sprint’s, is valued for its walkie-talkie-like push-to-talk function, but is poorly suited to smartphones, and subscribers have been leaving every year. http://jodnet.blogspot.com
The rate of contract subscribers canceling service every month was 1.85 percent in the quarter. That was the company’s lowest figure ever, though it was still higher than the corresponding figure at AT&T and Verizon Wireless.Sprint ended the quarter with 48.2 million subscribers.
Its quarterly loss amounted to $760 million, or 25 cents per share. That compares with a loss of $384 million, or 13 cents per share, a year earlier.
Analysts who took into account a change in Sprint’s tax treatments were on average expecting a loss 24 cents per share, according to the company.
Revenue slipped 1 percent to $8.03 billion. Analysts expected $8.0 billion in revenue.
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