Sprint today reported its wireless service revenues of nearly $7.3 billion for the quarter, an increase of nearly 6 percent year-over-year. Wireless service revenues for the Sprint platform grew 14 percent year-over-year driven by postpaid ARPU growth of $3.01 and continued subscriber growth.
The company reported a net loss of $767 million and a diluted net loss of $.26 per share for the third quarter of 2012 as compared to a net loss of $301 million and a diluted net loss of $.10 per share in the third quarter of 2011.
“The Sprint platform performed well, with strong net subscriber additions, record third quarter postpaid and prepaid churn and robust revenue growth, contributing to Adjusted OIBDA* of $1.28 billion even as we continue to invest in Network Vision and position the company for future growth,” said Dan Hesse, Sprint CEO. “As a result, we believe we will slightly exceed the top of the range of our recently increased Adjusted OIBDA forecast.”
Business Highlights:
- Nearly 900,000 Sprint platform net additions
- Continued high postpaid Nextel recapture rate of 59 percent
- Strong total iPhone sales of approximately 1.5 million – 40 percent to new customers
- 4G LTE now launched in 32 cities with over 115 more expected in coming months
- Construction started in over 200 cities
- Over 13,500 sites now ready for construction
- Current construction starts per week have grown over 250 percent from second quarter
- Nearly 4,300 sites on air
