Sprint delivered third quarter earnings with a relatively nice surprise — its losses were less than expected. Any good feeling from its numbers, however, was short-lived as Sprint went on to remind shareholders that it would be seeking capital — as much as $7 billion — to fund new handsets and a network upgrade. The net loss for the quarter was $301 million, down from $911 million a year ago. The loss is the lowest Sprint has posted in four years. Sprint also posted a strong 1.3 million net new wireless subscribers — and this without the lure of Apple’s iPhone.
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Sprint's Slow Jog to Recovery
Posted by: Erika Morphy October 27, 2011 10:36 AMSprint delivered third quarter earnings with a relatively nice surprise — its losses were less than expected. Any good feeling from its numbers, however, was short-lived as Sprint went on to remind shareholders that it would be seeking capital — as much as $7 billion — to fund new handsets and a network upgrade. The net loss for the quarter was $301 million, down from $911 million a year ago. The loss is the lowest Sprint has posted in four years. Sprint also posted a strong 1.3 million net new wireless subscribers — and this without the lure of Apple’s iPhone.