logo
Share SHARE
FONT-SIZE Plus   Neg

Sprint Nextel Q1 Loss Widens - Quick Facts

Sprint Nextel Corp. (S) reported a first-quarter net loss of $863 million or $0.29 per share, compared to a net loss of $439 million or $0.15 per share in the first quarter of 2011. Analysts polled by Thomson Reuters expected the company to report a loss of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Net operating revenues for the quarter rose to $8.73 billion from $8.31 billion in the prior year quarter. Twenty eight analysts had consensus revenue estimate of $8.71 billion for the quarter.

The company had wireless service revenues of $7.2 billion during the quarter, an increase of more than 7 percent year-over-year, driven primarily by Sprint platform postpaid ARPU growth of $4.03. The company reported total net subscriber additions of nearly 1.1 million during the first quarter, bringing total ending subscribers to a record 56 million.

In addition, as part of Network Vision, Sprint continues to expect to launch 4G LTE in six major cities by mid-year 2012 including Houston, Dallas, San Antonio, Atlanta, Kansas City and Baltimore.

The company expects 2012 Adjusted OIBDA to be at the high-end of the previous forecast of between $3.7 billion and $3.9 billion. The company said it continues to anticipate full year consolidated net service revenue growth of 4 to 6 percent.

Sprint continues to expect full year capital expenditures of approximately $6 billion in 2012, excluding capitalized interest.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
RELATED NEWS
Trade S now with 
Follow RTT