OVERLAND PARK, Kan. (TheStreet) -- Sprint Nextel (S) - Get Report said it expects both post-paid and total subscriber losses to narrow in 2010 amid the launching or announcement of several new devices since the start of the year, a growing 4G network, and an as-expected first-quarter loss.
Sprint maintained that full-year capital expenditures in 2010 will be up to $2 billion, and that there should be continued generation of positive, free cash flow for the remainder of the year.
In the first quarter, Sprint reported a net loss of $865 million, or 29 cents a share. The loss would have been 17 cents a share, excluding a one-off item. A year ago, Sprint had a loss of $594 million, or 21 cents a share.
Consolidated net operating revenue fell about 2% to $8.1 billion. Analysts were expecting revenue of $8.05 billion.
Sprint lost a total of 75,000 net subscribers in the quarter, though net post-paid subscriber losses improved year-over-year as the company lost 670,000 fewer subscribers.
-- Reported by Andrea Tse in New York
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