Sprint Loss Narrower Than Expected

Sprint announces a narrower-than-expected second-quarter loss.
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OVERLAND PARK, Kan. (TheStreet) -- Sprint Nextel (S) - Get Report said it expects to deliver positive total net wireless subscriber additions during the remainder of 2010 and fewer net postpaid subscriber losses in the second half of 2010. It reported a narrower-than-expected second-quarter loss.

For the quarter, Sprint had a loss of $760 million, or 25 cents a share, versus a year-earlier loss of $384 million, or 13 cents. Included in the quarter was a non-cash charge of $302 million, or 10 cents a share, for a pro forma loss of 15 cents.

Consolidated net revenue was $8.03 billion, versus $8.14 billion a year ago.

Analysts on average were expecting a loss of 20 cents a share on revenue of $8.03 billion.

The company said it generated $709 million of free cash flow and gained about 111,000 net subscribers in the quarter, driven by smartphone demand.

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-- Reported by Andrea Tse in New York

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