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Sprint Beats Quarterly Subscriber Expectations

Sprint Nextel Corp beats average expectation for almost 17,000 customer additions in the fourth quarter as it added 58,000 subscribers. The company narrowed its loss to $929 million, or 31 cents per share, in the fourth quarter from $980 million, or 34 cents per share, a year earlier. Its revenue rose to $8.3 billion from $7.87 billion and exceeded the analysts' average estimate of $8.15 billion. Sprint said 2011 capital spending would be about $3 billion and it expects to continue to generate free cash flow in 2011.