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Tuesday, Jul 30
More on Sprint Q2: Net loss widens
- Net loss widens to $1.6B from $1.4B a year earlier.
- Results include depreciation of $430M and charges of $623M related to the shutdown of Nextel's platform.
- Average revenue per subscriber on the Sprint network rose to $64.20 from $63.38 a year earlier.
- Sprint lost a net 1.05M contract subscribers in Q2 vs 246,000 a year earlier, due to shutting down Nextel. In contrast, Verizon added 941,000 in Q2 and AT&T 551,000.
- Wireless-service revenue +8% to a record $7.2B.
- Sold 1.4M iPhones in Q2, down from 1.5M in Q1.
- Postpaid churn from Sprint brand increased to 1.83% from 1.69% a year earlier. Total company postpaid churn 2.63% vs 1.79%.
- Expects 2013 adjusted operating profit before depreciation and amortization of $5.5-5.7B, up from a previous forecast of $5.2-5.5B. (Previous) (PR)