Monday, October 18, 2004

Sprint Raises 2004 Outlook, Recognizes $3.5 billion LD Charge

Sprint reported $6.922 billion in quarterly revenue, up 3.1% over the same period last year. For the quarter, fully diluted loss per share on a GAAP basis was $1.32 reflecting a $1.53 per share loss associated with an impairment charge of $3.5 billion associated with its Long Distance business.

Sprint Consumer Solutions reported 4% sequential growth of revenues on strong wireless performance, Sprint Local Consumer Solutions reported a 1% sequential increase, and Sprint Business Solutions reported a 2% sequential decline as lower wireline revenues were partially offset by growth in wireless.

For the wireless group, Q3 net subscriber additions include 429,000 through direct channels, 422,000 from wholesale partners and 101,000 through affiliates. At the end of the period, there were 23.2 million wireless subscribers, consisting of 17.3 million direct, 3.1 million from affiliates and 2.8 million wholesale. Direct gross additions were approximately 1.8 million in the quarter, a 26% year-over-year increase. At the end of the period, there were nearly 7.3 million Sprint PCS data subscribers, including 5.6 million Sprint PCS Vision subscribers. For the full quarter, data contributed 8% to overall ARPU.


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