Sprint Posts Solid Q1’11 Numbers, But Still Losing Money
Sprint just announced their numbers for Q1 2011. There are a couple of different things I expected to see here, but I won’t get into that. Highlights? Why, of course! The company added 1.1 million new subscribers this quarter which they’re calling their most ever in five years. A majority of those customers are pre-paid, but the amount of postpaid customers added (310,000) isn’t too bad. Of the 1.1 million, 732,000 are retail subscribers while the rest are wholesale and affiliate additions.
They also posted great looking overall revenue and service revenue numbers at $8.3 billion and $6.6 billion, but this was only a 3% increase since the same quarter in 2010. What’s more is that they were still unable to turn profit as they lost $439 million, but it’s worthy to note they had to pay back a $1.6 billion debt this quarter. They have no other debts to take care of until March 2012.
Sprint’s expected to keep things rolling as far as devices go as they look to launch America’s first 3D phone alongside other Android-based products that should be just as much of a success as the original HTC EVO 4G. If you want the full results from Sprint’s latest number crunching session, head over to their site.