“The company lost 991,000 long-term calling plan subscribers, an improvement from the 1.25 million lost in the previous quarter but worse than the 780,000 shed a year ago,” Everly reports.
“In contrast to Sprint, Verizon gained 1.1 million subscribers in the second quarter and AT&T added 1.37 million while beating analysts’ estimates for earnings,” Everly reports.
Sprint “posted a wider net loss for the second quarter of $384 million, or 13 cents per share. That compared with a loss of $344 million, or 12 cents per share, for the same period last year. Revenues declined to $8.14 billion, a 10 percent drop from the same period a year ago,” Everly reports. “The most recent quarter’s loss would have been worse without a reduction in expenses, including cutting 8,000 jobs earlier this year.”
Everly reports, “Wall Street punished Sprint Nextel’s stock. It dropped 54 cents, or almost 12 percent, and closed at $4.05… The company didn’t report Pre sales, which up to now have been almost entirely in Sprint stores, but said it was the smoothest launch it had ever had for a new product.”
Full article here.
MacDailyNews Take: It certainly sounds smooth. (smirk)
[Thanks to MacDailyNews Reader "iPhoniac" for the heads up.]
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