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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