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Sprint Posts Narrower Loss, Adds 1.3M Wireless Subs

Stocks in this article: S

OVERLAND PARK, Kansas ( TheStreet) -- Sprint (S), the No. 3 telco, posted a third-quarter loss of $301 million, or 10 cents a share, narrower than a year earlier as revenue rose 2% to $8.33 billion.

Analysts surveyed by Thomson Reuters expect Sprint to report a loss of 22 cents a share on revenue of $8.38 billion. The company posted a year-earlier loss of $911 million, or 30 cents a share.

Sprint, in a press release Wednesday, said it had its "best total company wireless net subscriber additions in more than five years." Sprint added almost 1.3 million total net wireless subscribers in the quarter.

Sprint noted the growth doesn't include sales of Apple's iPhone 4S which launched Oct. 14.

Sprint said the "iPhone is expected to be accretive for Sprint, and iPhone users are expected to be among Sprint's most profitable customers."

Sprint said it expects to add net postpaid subscribers for 2011 from 2010 and improve total net wireless subscriber additions this year.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

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