Sprint shores up cash as it reports loss

11/10/2008 | Washington Post, The · Wall Street Journal, The · Telephony Online

Sprint Nextel CEO Dan Hesse said the company's aggressive customer-retention strategy was starting to pay off even though the company reported that it lost 1.3 million net subscribers in the third quarter and posted a $326 million loss. But Sprint did move to give itself a cash cushion by amending a critical credit agreement. "This is the company being proactive during tough financial times," said Walter Piecyk, an analyst at Pali Research.

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Washington Post, The · Wall Street Journal, The · Telephony Online

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