Sprint Posts Loss Wider Than Estimated

Sprint Nextel reported a third-quarter loss of $911 million, or 30 cents a share, wider than analysts' estimates of a loss of 28 cents.
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reported a third-quarter loss of $911 million, or 30 cents a share, wider than analysts' estimates.

Net revenue in the quarter rose 1% to $8.15 billion from $8.04 billion a year earlier.

Analysts surveyed by Thomson Reuters expected Sprint, the third-largest U.S. wireless carrier, to lose 28 cents a share in the quarter on revenue of $8.02 billion.

Last year, Sprint posted a loss of $478 million, or 17 cents a share.

Sprint said Wednesday it achieved its best total company wireless subscriber net additions since 2006 in the third quarter, adding 644,000 total wireless subscribers.

Net postpaid subscriber losses in the third quarter were 107,000 vs. 801,000 a year earlier.

-- Written by Joseph Woelfel

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