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Sprint Losses Drop, But So Do Subscribers

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Sprint Losses Drop, But So Do Subscribers
[ Business]

Sprint, the third largest wireless carrier in the U.S., today released its first quarter 2013 financial results. The report shows that the company’s net losses have decreased from the fourth quarter of 2012, though it also shows worrying trends, such as falling subscriber numbers.

Sprint reported a net loss of $643 million, compared to the $863 million net loss it posted for the fourth quarter of 2012. However, this small victory was tempered by the news that the carrier lost 560,000 postpaid subscribers during the quarter.

Many of Sprint’s revenue and subscriber losses come from its Nextel platform, which the company is currently in the process of shutting down. Sprint stated that it is on-track to shut down Nextel at the end of the second quarter 2013.

In the meantime, Sprint announced it has formed a committee of independent directors to review a proposed $25.5 billion merger with Dish. The merger would provide Sprint shareholders with a greater payout than an alternate $20.1 billion proposal from Softbank.

Back in December, Sprint fully acquired Clearwire for $2.2 billion.

“This is a transformative year for Sprint and we’ve gotten off to a good start,” said Dan Hesse, CEO of Sprint.

Sprint Losses Drop, But So Do Subscribers
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