7/30/2013

Sprint's shutdown of its Nextel two-way network played a major role in the carrier losing 1.05 million customers in the second quarter, but wireless revenues rose by 8%, and its average revenue per subscriber grew more than analysts had expected, the company reported today. Much of the $1.6 billion loss resulted from one-time expenses related to Nextel. Sprint did say that it was moving swiftly to complete its Long-Term Evolution network, having added 41 markets Monday to reach 151 cities, with an eye on passing 200 million people by year-end. In Japan, Sprint's new owner, SoftBank, outpaced estimates on the backs of strong iPhone sales and acquisitions.

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