Sprint announces Q4 2011 results: the iPhone brings in new customers

Following its bittersweet Q3, the latest financial report from Sprint this quarter offers up another mixed bag of news. Net operating losses totalled $438 million, more than the $139 million posted in the same quarter last year. It suffered a staggering $1.3 billion net loss (much of that due to upfront costs associated with launching the iPhone), dwarfing the Q3's $301 million losses. Operating revenue increases were, however, the largest in the last five years, up to $8.72 billion from $8.3 billion. Net subscribers now total 55 million, with 33 million postpaid, 14.8 million prepaid and around 7.2 million arriving from wholesale, adding an extra 1.6 million Sprint customers in the last quarter. This was also the first time in a long while that new subscribers on the Sprint platform outpaced losses at the Nextel and wireline businesses. Sprint hoped to see its iPhone draw customers into its network, putting it toe-to-toe with the bigger carriers, and it largely did, with 40 percent of the 1.8 million iPhones sold landing directly in the hands of new customers. However, the higher subsidy costs of the iPhone was also responsible for these tougher financial results. Last year also saw the tentative launch of Sprint's LTE network, and that's where the future appears to be for the carrier, with its forward-looking statement hinging on exactly how fast they're able to grab the 4G bull by the horns and get it into their customers' hands. Compatibility with Clearwire's next generation network is mentioned here, as is the "financial performance of Clearwire and its ability to build, operate, and maintain its 4G network." Lightsquared, however, was conspicuously absent from Sprint's future machinations.

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Sprint announces Q4 2011 results: the iPhone brings in new customers originally appeared on Engadget on Wed, 08 Feb 2012 07:15:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/02/08/sprint-q4-2011-financial-results/

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