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Sprint Nextel Q2 Earnings reveal Wider Loss of $1.4 Billion

Sprint Nextel reported the Q2 2012 earning numbers. IPhone sales look good with 1.5 million, but the carrier still loses money.

Jul 26 2012, 6:18am CDT | by

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Sprint Nextel Q2 Earnings reveal Wider Loss of $1.4 Billion
 
 

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Sprint Nextel Q2 Earnings reveal Wider Loss of $1.4 Billion

Sprint Nextel Corp. today reported a net loss of $1.4 billion compared to a net loss of $847 million in the second quarter of 2011.

Sprint platform postpaid net additions of 442,000 improved by 68 percent sequentially driven by best ever quarterly churn performance of 1.69 percent, a Nextel postpaid recapture rate of 60 percent and the continued strength of iPhone® sales. Sprint recorded nearly 1.5 million iPhone sales in the second quarter with 40 percent going to new postpaid customers.

Sprint’s second quarter 2012 results include accelerated depreciation of $782 million, or negative $.26 per share (pre-tax), primarily related to Network Vision, including the expected shutdown of the Nextel platform; $184 million, or negative $.06 per share (pre-tax), for the recognition of lease exit costs for the remaining lease obligations associated with certain Nextel sites shut down; and an impairment of $204 million, or negative $.07 per share (pre-tax), related to Sprint’s investment in Clearwire.

The company reported wireless service revenues of $7.3 billion during the quarter, an increase of more than 8 percent year-over-year, driven primarily by Sprint platform postpaid ARPU growth of $4.31 – the largest quarterly year-over-year increase on record for the U.S. wireless industry.

Sprint has launched 4G LTE in 5 majore markets and 15 cities this month.

The full Sprint Q2 2012 numbers can be found here.

 

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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