Sprint Reports Q1 2012 Earnings, 1.5 Million iPhones Sold
Sprint has reported its earnings for Q1 2012 which saw subscriber growth of 4%, 1.5 million iPhones sold, and $255 million operating loss.
The total number of customers on the Sprint platform grew almost 4 percent sequentially including 263,000 postpaid net subscriber additions, 870,000 prepaid net subscriber additions and 785,000 wholesale and affiliate net subscriber additions. Sprint recorded more than 1.5 million iPhone® sales in the first quarter with 44 percent going to new customers. Prepaid churn on the Sprint platform improved to 2.92 percent, the tenth consecutive quarter of year-over-year improvement.
● Best ever Sprint platform postpaid ARPU increase of $4.03, or 6.9 percent, year-over-year drives Sprint platform wireless service revenue growth of 16 percent year-over-year
● Operating loss of $255 million; Adjusted OIBDA* of $1.2 billion, which includes $104 million in Network Vision related operating expense
● 263,000 postpaid net additions on the Sprint platform in the quarter eighth consecutive quarter of postpaid subscriber growth on the Sprint platform
● Total company net additions of more than 1 million for the sixth consecutive quarter
● Strong iPhone sales of more than 1.5 million 44 percent to new customers
● Network Vision deployment continues on track
--- Continue to expect six major cities to launch 4G LTE by mid-year
--- Continue to expect 12,000 sites on air by end of 2012
--- To date work has begun on 25 percent of planned 2012 sites; 5 percent are on air
---- Nearly 1,300 iDEN sites taken off air to date; expect 9,600 total by the end of the third quarter