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Sprint Q3 results show $7.3B revenue, $398M operating loss

updated 08:56 am EDT, Wed October 30, 2013

Sprint loses 313,000 customers, sells 1.4M iPhones in quarter

Sprint's first full-quarter earnings report after the completion of SoftBank's takeover and the acquisition of Clearwire gives it good news and bad news in equal measure, with the carrier's revenues rising to $7.3 billion compared to the $7.2 billion in the previous quarter. Operating losses at the company have shrunk to $398 million, an improvement on last quarter's $874 million loss, though it is still a greater loss than the $231 million in the same period last year.

Following the closure of the Nextel network at the end of last quarter, Sprint has a net loss of 313,000 customers in the period, with 360,000 postpaid subscribers being offset by wholesale and prepaid customer increases. Total customer numbers now lie at 54.8 million.

The carrier managed to sell close to 5 million smartphones in the quarter, which accounts for 92-percent of postpaid device sales. Of the 1.4 million iPhones sold in that number, 40 percent were to new customers, something which could be considered low when compared to the approximately 3.9 million iPhones sold on Verizon for the same period, making up 51 percent of activations on that carrier.

While the results are a mixture of good and bad news for Sprint, the involvement of Softbank could possibly help the carrier turn around its dropping customer numbers in the long run, such as by increasing the speed of its 4G LTE rollout and improving the speed of the network itself.



By Electronista Staff
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