After Verizon and AT&T, it was Sprint’s turn to report its quarterly earnings. It reported net operating revenues of $8.763 billion, up around 5% year-over-year. However, its losses increased to $767 million, more than doubling year-over-year. Its operating loss was $231 million, much less than a $629 million operating loss last quarter.
It added around 900,000 net new users and sold around 1.5 million new iPhones.
It also made significant progress with its Network VIsion deployment, with 4G LTE coverage in more than 32 cities and 115 more coming soon.
The Sprint postpaid subscriber base saw net additions of 410,000. Sprint also reported that it surpassed sales of 1 million LTE smartphones before the launch of the iPhone 5.
Dan Hesse, Sprint CEO, said:
“The Sprint platform performed well, with strong net subscriber additions, record third quarter postpaid and prepaid churn and robust revenue growth, contributing to Adjusted OIBDA* of $1.28 billion even as we continue to invest in Network Vision and position the company for future growth.”
Sprint is in a very strong financial position now, thanks to Softbank’s acquisition.
via Sprint – SEC