Sprint Nextel stock tumbled as the company came out with its quarterly earnings report Thursday, in which it highlighted improved customer service but also announced a higher-than-expected net loss of $847 million as well as a loss of 101,000 postpaid subscribers. Wall Street analysts weren’t surprised to see the company, facing stiff competition in the crowded mobile marketplace, announce a net loss, but some were expecting to see a dip closer to $500 million. Wireless contract subscriber losses were higher than expected as well, as 101,000 customers left.
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Sprint's Future Murky as Cash Bleeds, Customers Flee
Posted by: Rachelle Dragani July 29, 2011 10:49 AMSprint Nextel stock tumbled as the company came out with its quarterly earnings report Thursday, in which it highlighted improved customer service but also announced a higher-than-expected net loss of $847 million as well as a loss of 101,000 postpaid subscribers. Wall Street analysts weren’t surprised to see the company, facing stiff competition in the crowded mobile marketplace, announce a net loss, but some were expecting to see a dip closer to $500 million. Wireless contract subscriber losses were higher than expected as well, as 101,000 customers left.