Sprint Reports Net Loss of $1.4 Billion, 1.5 Million iPhones Sold

Posted July 26, 2012 at 2:27pm by iClarified | Please help us and submit a translation by clicking here | 4907 views

Sprint today announced its earnings for the second quarter of 2012. The company sold nearly 1.5 million iPhones with 40 percent going to new postpaid customers; however, it reported a net loss of $1.4 billion.

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Sprint today reported a net loss of $1.4 billion and a diluted net loss of $.46 per share for the second quarter of 2012 as compared to a net loss of $847 million and a diluted net loss of $.28 per share in the second quarter of 2011. Sprint's second quarter 2012 results include accelerated depreciation of $782 million, or negative $.26 per share (pre-tax), primarily related to Network Vision, including the expected shutdown of the Nextel platform; $184 million, or negative $.06 per share (pre-tax), for the recognition of lease exit costs for the remaining lease obligations associated with certain Nextel sites shut down; and an impairment of $204 million, or negative $.07 per share (pre-tax), related to Sprint's investment in Clearwire.

The company reported wireless service revenues of $7.3 billion during the quarter, an increase of more than 8 percent year-over-year, 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.

Sprint platform postpaid net additions of 442,000 improved by 68 percent sequentially driven by best ever quarterly churn performance of 1.69 percent, a Nextel postpaid recapture rate of 60 percent and the continued strength of iPhone sales. Sprint recorded nearly 1.5 million iPhone sales in the second quarter with 40 percent going to new postpaid customers.

"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."
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Tiestofan - July 27, 2012 at 2:41pm
You say sprints data is too slow? I've been using an unlocked iPhone for 4 years now on Tmobile and it's stupid slow. Sprints is faster than mine but that's not saying much since I'm stuck on edge network. I'm sure they will work out the data issue in the next iPhone.
NoGoodNick - July 26, 2012 at 5:27pm
I can't sprint. Too fat
iPhone4u - July 26, 2012 at 4:32pm
I don't even know why sprint offers the iPhone, with those speed data issues they have...it's unusable
Me - July 26, 2012 at 3:37pm
Wait until they discontinued their unlimited data plan. They will be fucked.The reason people they sold iPhones because of their unlimited data..It still slow data
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