updated 08:16 am EDT, Wed April 24, 2013
Financial results show relatively steady revenues, mass Nextel exodus
Sprint managed to sell 5 million smartphones in the first quarter of this year, making up 86-percent of its device sales, according to recently released financial results. While 1.5 million iPhones were sold in the period, 43-percent to new Sprint customers, this is a drop from the record 2.2 million iPhones sold during the fourth quarter last year.
Though revenue totaled $8.8 billion for the quarter, roughly similar to last year, the net loss of $643 million is a minor improvement on the net loss of $863 million year-on-year, and a major improvement from the loss of $1.3 billion last quarter. Postpaid customer numbers have dropped by 560,000 in total, with the 12,000 gained through Sprint itself lost by the 572,000 leaving Nextel, giving Sprint a total of 31.3 million customers on contract at the end of the quarter.
The new financial figures may give shareholders something to think about when considering the current acquisition of Sprint by SoftBank, as well as the new offer from Dish Network.