Thursday, July 26, 2012
Sprint Q2 2012 Earnings: Net Loss Widens To $1.4B, 1.5M iPhones Sold
U.S. wireless carrier Sprint Nextel has just posted its results for Q2, and while it continues to prepare for a brighter future ahead, it reported a widening net loss of $1.4 billion, with negative EPS of $.46 per share, failing to meet analyst expectations. That's compared to a net loss of $847 million and a diluted net loss of $.28 per share in the second quarter of 2011. Overall revenues were $8.8 billion, which were higher than analyst estimates, while wireless service revenues were $7.3 billion. The operating loss was $629 million. The company says it sold 1.5 million iPhones in the quarter, some 40 percent to new postpaid customers. That is exactly level with the number of iPhone sales last quarter. But that also helped contribute to strong postpaid net additions of 442,000, nearly double those of last quarter and the same quarter a year ago.