Sprint showed subscriber growth in Q1 2012, still reports net loss of $863 million
Sprint has posted its eighth consecutive quarter of subscriber growth in Q1 of the year, netting 263,000 postpaid customers. Despite the additions the nation’s third largest carrier reported $255 million in operating loss and a net loss of $863 million (wireless service revenue was up 7 percent year-over-year at $7.2 billion). Sales of the iPhone were responsible in large part for customer additions, with 44 percent of the 1.5 million units sold going to new subscribers. The shift to 4G LTE and all that it entails was a factor in the high operating expenses reported.
Speaking of 4G LTE, Sprint is still on track to launch its first six markets by mid-year and has plans to reach 12 cities by the end of 2012. With the drama that has sometimes been associated with the move, it’s a milestone that can come soon enough for the carrier.
[via Sprint]