logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alphabet Inc. (GOOG, GOOGL), the parent company of Google, Monday reported a surge in profit for the first quarter, primarily reflecting strong revenue growth in search and advertising. Alphabet's first-quarter profit surged to $9.40 billion or $13.33 per share from $5.43 billion or $7.73 per share... Canadian restaurant chain Tim Hortons woes seem to be only mounting. However, most of the company's troubles seem to be self-inflicted amid a public feud with its aggrieved franchisees, alleged deterioration in food quality, and falling share prices. Tim Hortons was acquired by Brazilian private equity firm 3G Capital for $12.5 billion in 2014. An unruly passenger was tasered, arrested and forcibly removed from an American Airlines flight on Sunday evening after he allegedly touched a female passenger inappropriately. Prior to takeoff, the boyfriend of the female passenger on the plane contacted authorities after the unruly passenger, Jacob Garcia, began touching her. Garcia was subsequently arrested by the police.
Follow RTT