“Sprint shares fell more than 10 percent on Wednesday as investors worried about price competition hurting its margins and about a disappointing fourth quarter for prepaid services, on which Sprint depended for growth in 2009,” Carew reports. “In the quarter, the No. 3 U.S. mobile service lost 504,000 postpaid customers who pay monthly bills.”
Carew reports, “Revenue fell to $7.87 billion from $8.43 billion, and compared with the average forecast for $8.03 billion. Analysts also noted Sprint did not have any high-profile phone launch in the quarter.”
“Sprint’s loss narrowed to $980 million, or 34 cents per share, for the quarter, from $1.6 billion, or 57 cents per share,” Carew reports. “Before a hefty non-cash charge, the loss was 23 cents per share, compared with the average analyst expectation for a loss of 19 cents, according to Thomson Reuters.”
Full article here.
Miriam Marcus reports for Forbes, “Last month AT&T reported fourth-quarter earnings in line with Wall Street’s expectations and said it added 2.7 million wireless subscribers in the period, the second-highest quarterly net gain in the company’s history, thanks largely to its exclusive contract with Apple’s popular iPhone.”
Full article here.
[Thanks to MacDailyNews Reader “Davewrite” for the heads up.]