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Telecom & Wireless

Sprint Shrugs Off iPhone With Good Earnings

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By Douglas A. McIntyre Published
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Sprint-Nextel (NASDAQ: S) may not have the Apple (NASDAQ: AAPL) iPhone but that has not impeded its recover.

The wireless provider posted relatively good numbers for the period which ended on December 31. The company also pointed to its 4G WiMax service as a means of future growth. AT&T Wireless and Verizon Wireless have been slow into the market with their 4G LTE products.

Fourth quarter revenue rose 6% to $8.3 billion. Sprint’s net loss fell from $980 million in the same period last year to $929 million.

The telco said it “added nearly 1.1 million total wireless subscribers driven by net postpaid subscriber additions of 58,000, which include net subscriber additions of 519,000 for the Sprint brand – and the company’s best ever fourth quarter prepaid net subscriber additions of 646,000. The company delivered postpaid churn of 1.86 percent – the best postpaid churn result Sprint has reported in the fourth quarter of any year. Sprint achieved its best ever annual postpaid churn of 1.95 percent in 2010.”

AT&T and Verizon Wireless continue to add wireless customers but at a slowing rate. There are 280 million cellphones in use in the US by some estimates. The four large wireless companies which includes T-Mobile are now in a battle for market share. The struggle will probably go on for several years. And, the winner may need to win a discount war to take the top position by amassing market share. Margins are about to be squeezed.

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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