Sprint Posts Q3 Financial Results, Optimistic About Future Despite Losses
Sprint has finally posted their Q3 2011 financial results. The Now Network gained $8.3 billion in overall revenue, a marginal improvement over the same quarter last year. Despite the gains, Sprint still reported net losses of $301 million dollars, though they largely improved over the same quarter last year where they lost over $900 million.
For connections, they’ve added 1.3 million new customers overall, including 304,000 postpaid consumers, 485,000 prepaid additions and 835,000 wholesale additions.
Sprint says the additions were achieved even without the new iPhone 4S and the iPhone 4 they launched on October 14th (because it is now Q4) and they expect these numbers to be even higher afterward. They attributed their exceptional growth to many Android smartphones amongst other competing operating systems.
For the future of their financial performance, Sprint expects the iPhone to be their highest revenue-generating device, though let’s not forget their 2012 commitments to 4G LTE. Sprint is said to launch their service in the middle of next year and complete most of their rollout by the end of 2013. At least 12-15 4G LTE devices will be available starting in the middle of next year.
Sprint’s slowed financial bleeding also seems to be affected by their decisions to get rid of “premier” services that granted consumers costly perks. They’ve also made modifications to their data plans for non-smartphone data such as mobile hotspot/USB modem devices and mobile hotspot on smartphones. It’s also worthy to note that they began applying their $10 supplemental “data fee” to all smartphones since the same quarter last year, not just 4G smartphones.
Whew, that was a lot. It’s clear why Sprint’s losses don’t seem as significant as they once did, but they’re still losses nonetheless. Let’s see if they can keep it up and turn it around once they evolve their network sometime next year. Hit the source link for more details. [Sprint]