Monday, 29 July 2013

Sprint reports 'highest-ever' revenue of $7.2 billion for Q2 2013, loses $874 million on Nextel shutdown

Sprint reports 'highestever' revenue of $72 billion for Q2 2013


Sprint has just announced its second quarter 2013 financial results, and while it's pay as you go plans are paying off in income, it still took a huge loss. The company posted $7.2 billion in earnings, its "highest ever" total and an eight percent increase over last year, but also lost $874 million for the quarter. It's chalking that up to a huge depreciation charge of $430 million and another non-cash hit of $623 million due to the Nextel platform shutdown. The shutdown and loss were anticipated, though and apart from that, Sprint said it's in good place, having achieved "record levels of... postpaid subscribes, service revenue and postpaid ARPU."


The operator now has 4G-LTE coverage in 151 markets, including 41 that are new as of today, including Philadelphia, the Bronx , Brooklyn, Jacksonville, Nashville and Oakland. As for subscribers, post pre-paid and post-paid customers are up from last year, though churn (turnover) is also up a touch over Q2 2012 to 1.83 percent.


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Source: Sprint






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