With recent news of Softbank’s proposed $20.1 billion investment hovering in the background, Sprint Nextel has reported less-than-pretty earnings for the third quarter 2012. The carrier posted a net loss of $767 million, compared with a net loss of $301 million in the third quarter of 2011. It also lost about 459,000 contract customers for the quarter. There were bright spots to the report, however. Sprint Nextel’s wireless service revenue reached nearly $7.3 billion during the quarter, an increase of nearly 6 percent year-over-year.
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Sprint Customers Flee to Speedier Networks
Posted by: Erika Morphy October 26, 2012 02:14 PMWith recent news of Softbank’s proposed $20.1 billion investment hovering in the background, Sprint Nextel has reported less-than-pretty earnings for the third quarter 2012. The carrier posted a net loss of $767 million, compared with a net loss of $301 million in the third quarter of 2011. It also lost about 459,000 contract customers for the quarter. There were bright spots to the report, however. Sprint Nextel’s wireless service revenue reached nearly $7.3 billion during the quarter, an increase of nearly 6 percent year-over-year.