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Sprint loses 595,000 customers, claims seven-year financial high

updated 12:19 pm EDT, Tue April 29, 2014

Quarterly results show Sprint Framily has 3M subscribers

Sprint has lost more than half a million subscribers and prepaid customers in the last three months, it has revealed in its latest quarterly financial report. Despite the reduction in customers, the company still managed to achieve a consolidated operating income of $420 million in the quarter, which the carrier claims is its best performance in over seven years, though it is still operating at a loss.

At the end of the quarter, Sprint served over 53 million users, with postpaid numbers being up 16 percent year-on-year. It reports a net loss of 231,000 postpaid customers due to "service disruption associated with the company's ongoing network overhaul," and lost 364,000 prepaid. Last quarter, Sprint celebrated its highest ever subscriber count of 53.9 million. Smartphone sales were just under 5 million in the quarter, and represents 84 percent of total smartphone sales in the period.

Sprint's Framily plan, a group plan that supports up to ten people, is being heralded as a success, with more than 3 million subscribers using it. CNET reports CEO Dan Hesse told an investor conference call that Framily is "the company's fastest growing rate plan on record," adding 1 million subscribers in less than 40 days.

The $420 million income is countered by a quarterly net loss of $151 million, which it claims to be a 77-percent improvement on the first quarter of 2013. Revenues for the period increased by less than one percent to $8.88 billion.



By Electronista Staff
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