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Sprint Nextel reports larger 1Q loss

Sprint Nextel reports larger 1Q loss

Sprint Nextel Corp., the third largest U.S. wireless service provider, says it had a larger first-quarter loss on declining revenue, continuing customer losses and a charge for job cuts announced in January.
The Overland Park, Kansas-based company said Monday it lost $594 million, or 21 cents per share, during the three months ending March 31. That compares with a loss of $505 million, or 18 cents per share, a year ago.
Not including one-time items, Sprint says it would have lost 3 cents - a penny less than analysts had expected.
It says revenue declined 12 percent to $8.21 billion - slightly below the $8.28 billion analysts expected.
Sprint says it lost a net of 182,000 subscribers.


Updated : 2021-06-22 19:12 GMT+08:00