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October 28, 2010

Sprint Nextel Q3 revenue up marginally to $8.2bn

Wireline revenue decreased 14% to $1.2bn in Q3 2010

By CBR Staff Writer

Sprint Nextel has reported total net revenue of $8.2bn for the third quarter of 2010, an increase of 3%, compared to $8bn for the same period last year.

The company said that the wireless revenue grew 3% to $7.2bn, while wireline revenue decreased 14% to $1.2bn.

For the third quarter ended 30 September 2010, the company made an operating loss of $213m, compared to an operating loss of $254m last year.

The net loss per share was $0.30 compared to loss per share of $0.17 in the same period last year, while cash and cash equivalents at the end of the quarter was $4.7bn.

The company reported a net loss of $911m for the third quarter 2010, against a net loss of $478m in the year-ago quarter.

Sprint CEO Dan Hesse said the company gained postpaid customers for the fourth consecutive quarter, for the second consecutive quarter based on porting data, more customers switched to Sprint from their competitors than switched from Sprint to their competitors.

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