Sprint Q2 Revenues down 10%, Loses Quarter-Million Subcribers
By Simon Sage on Wednesday, July 29th, 2009 at 11:25 AM PST In Financial/Corporate News, Sprint
Sprint (NYSE: S)’s quarterly report is looking relatively rougher than Rogers‘. Net revenues are down $384 million, a 10% year-over-year loss putting them at the $8.1 billion mark. 257,000 subscribers left Sprint in the last quarter, resulting in a net total of 48.8 million wireless customers. On the plus side, net debt decreased $700 million to $16.4 billion, and churn continued its decline to 2.05%, although that’s little consolation given the other numbers. As for the Palm (NSDQ: PALM) Pre’s performance, CEO Dan Hesse said it was their smoothest launch to date, despite reports that return rates are in the region of 40%. Sprint recently bought up Virgin Mobile U.S., which will likely boost Sprint’s dwindling prepaid numbers in future quarters. So, what’s to look forward to? WiMAX rollouts are underway, which hold a bright future for mobile broadband, if not handsets, and we’re hearing they’ll be bringing Android to the party before the end of the year.
Take a look at Sprint’s rapidly dropping stock on our finance page, or comb through the numbers in their Q2 2009 financial report.
[...] guess the Palm Pre hasn’t given Sprint the boost it was expecting. Instead Sprint is reportedly down 257,000 customers in the second quarter of this year. Not a good sign at all. The downward [...]
You are a fucking asshole.
“Take a look at Sprint’s rapidly dropping stock on our finance page, or comb through the dismal numbers in their Q2 2009 financial report.”
So what? It’s true. Financially, Sprint has had a dismal last couple of years.
But like Simon said, they do have some things to look forward to:
“So, what’s to look forward to? WiMAX rollouts are underway, which hold a bright future for mobile broadband, if not handsets, and we’re hearing they’ll be bringing Android to the party before the end of the year.”