Sprint Posts Overall Disappointing Q2’11 Results
Following the announcement of an exciting new venture between them and Lightsquared, Sprint have publicized their Q2 2011 results. The carrier claims to have achieved a net addition of 1.1 million subscribers (prepaid and wholesale), but still lost a good chunk of contract customers (who are seen as the bread and butter of carriers who offer postpaid services). They lost 101,000 in the postpaid sector. It is an improvement over the 127,000 they lost in the same quarter in 2010, but a loss is a loss and they didn’t improve by much. Sprint also lost money this quarter. After bringing in $8.3 billion in overall service revenue, they couldn’t muster to turn a profit, losing $847 million. Sprint’s looking for a better Q3 in all areas, obviously. Let’s hope this Lightsquared deal helps give their customers reason to stay on the Now Network within the next year or so as their competitors all look to adopt better technology. [Sprint]