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Investing

Sprint Loses $1.4 Billion

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By Douglas A. McIntyre Published
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Sprint-Nextel (NYSE: S) lost $1.4 billion in the second quarter, as it continued to remain viable in competition with AT&T (NYSE: T) and Verizon Wireless.

The company reported a net loss of $1.4 billion and a diluted net loss of $0.46 per share for the second quarter of 2012, as compared to a net loss of $847 million and a diluted net loss of $0.28 per share in the second quarter of 2011. The company reported wireless service revenues of $7.3 billion during the quarter, an increase of more than 8% year-over-year. That was driven primarily by Sprint platform postpaid ARPU growth of $4.31 — the largest quarterly year-over-year increase on record for the U.S. wireless industry.

The company sold 1.5 million Apple (NASDAQ: AAPL) iPhones over the period — 40% of postpaid customers.

Sprint did raise some of its guidance:

“The Sprint platform achieved best ever postpaid ARPU and customer churn that, combined with disciplined customer acquisition and cost management, contributed to our Adjusted OIBDA of $1.45 billion,” said Dan Hesse, Sprint CEO. “Based on this performance, we are raising the 2012 Adjusted OIBDA forecast to between $4.5 billion and $4.6 billion.”

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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