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Sprint loses 415,000 mobile customers in Q1
2013-04-24 15:39:00| Telecompaper Headlines
(Telecompaper) Sprint Nextel reported a small improvement in financial results for the first quarter but suffered a net loss of customers in the period. Service revenues were little changed year-on-year at nearly USD 8 billion, as growth in the Sprint mobile brand was offset by declines at Nextel and the wireline division. Adjusted OIBDA improved to USD 1.52 billion from USD 1.21 billion a year ago, and the company posted an operating profit of USD 29 million versus a loss of USD 255 million a year ago. The net loss narrowed to USD 643 million or USD 0.21 per share from USD 863 million or USD 0.29 per share in the first quarter of 2012. On the Sprint platform, the mobile operator added a net 356,000 new customers in the quarter, almost all in prepaid, for a total 53.9 million at the end of March. This was offset by the loss of 771,000 Nextel customers, which numbered 1.3 million at the end of the period. Sprint said it was on track to shut down the Nextel network at the end of June, while its Network Vision programme is also progressing, with number of sites on air growing from 8,000 at its last report in February to 13,500 today. LTE is already available in 88 cities and will reach 170 in the coming months. The company said it expects to reach the high end of its forecast for adjusted OIBDA this year of USD 5.2-5.5 billion, excluding any costs for the proposed takeover of the group and Clearwire.
Tags: mobile
customers
sprint
loses
Category:Telecommunications