Tuesday, October 26, 2010

Sprint Adds 644,000 Total Wireless Subscribers

Sprint Nextel added 644,000 wireless subscribers in Q3, its best total company wireless subscriber net additions since 2006. This includes a positive net postpaid subscriber growth of 354,000 for the Sprint brand. The company cited growing demand for smartphones like Samsung Epic 4G and HTC EVO 4G.

Sprint announced third quarter consolidated net operating revenues of almost $8.2 billion, a net loss of $911 million and a diluted loss per share of 30 cents. The company generated $384 million of free cash flow in the quarter, and maintained a strong liquidity position with approximately $4.7 billion in cash and cash equivalents at the end of the quarter.

"Driven by record customer satisfaction, and the performance of iconic devices like the EVO and Epic, Sprint's momentum continued this quarter," said Dan Hesse, Sprint CEO. "The Sprint brand gained postpaid customers for the fourth consecutive quarter as, for the second consecutive quarter based on porting data, more customers switched to Sprint from our competitors than switched from Sprint to our competitors. In addition, our last two quarters have been all-time bests for postpaid churn. We also saw improvement sequentially in prepaid net adds and our lowest prepaid churn in almost five years."http://www.sprint.com

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