http://www.blogcdn.com/www.engadget.com/media/2012/10/d3s5924.jpg Sprint’s latest financials show that while the network is slowly stemming the flow of cash from its veins, it’s not quite there in terms of turning a profit. The country’s third biggest carrier has suffered a $767 million net loss and an operating loss of $231 million – much less than the $629 million operating loss it suffered in Q2, and about on-par with the loss it ate in the same period last year. The business did manage to bring in total revenues of $8.8 billion, but had to take the hit on a $397 million write-down on costs related to Network Vision and the continued pain of the Nextel shutdown.
On the customer side, it added a further 900,000 users, sold 1.5 million iPhones and a further 1 million “LTE smartphones” in the three month period. However, its churn rate has increased to 1.88 percent, up from 1.69 percent in Q2, but the network did manage to coax 59 percent of former Nextel customers to stay tied up with Big Yellow. While it’s hardly a rosy estimation of Sprint’s finances, this report doesn’t take into account Softbank’s $20.1 billion buy-out or that it’s regained a controlling stake in Clearwire – which means that the next time we take a look through the spreadsheets, we might find some more exciting news.
Developing…
Filed under: Cellphones, Mobile
Sprint sells 1.5 million iPhones, 1 million other smartphones, but makes a net loss of $767 million originally appeared on Engadget on Thu, 25 Oct 2012 07:05:00 EDT. Please see our terms for use of feeds.
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