Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Sprint Nextel Q1 Loss Widens - Quick Facts

RELATED NEWS
Trade S now with 

Sprint Nextel Corp. (S: Quote) 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.

Register
To receive FREE breaking news email alerts for Sprint Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office. After coming under pressure in early trading, stocks have seen some further downside over the course of the trading day on Friday. With the losses on the day, the S&P 500 is pulling back well off the record closing high that it set in the previous session. After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than expected in the month of June.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.