Sprint posts net loss in Q2 earnings report, reveals plans for Motorola Photon Q and new LTE markets
Sprint’s earnings call for the second quarter of 2012 was chock full of juicy tidbits to digest this morning. Let’s get the boring money stuff out of the way first. Sprint posted a net loss of $1.4 billion for the quarter, an increase from $847 million in losses for the same quarter last year. While the money flow isn’t in the positive direction, all news wasn’t bad. Wireless service revenues were up 8 percent year-over-year at $7.3 billion and the carrier added 442,000 postpaid subscribers.
As part of the call, Sprint discussed its recently launched LTE network and revealed that Baltimore, which was included in the initial list of launch cities but did not see 4G coverage debut on July 15th along with the rest, will join the lineup in August. Folks in Gainesville, GA; Manhattan/Junction City, KS; and Sherman-Denison, TX can also expect to see the Now Network’s new network by Labor Day.
Speaking of LTE, CEO Dan Hesse mentioned the unannounced Motorola Photon Q as the company’s next major 4G release, saying it will launch “very soon” and also act as a GSM-enabled world phone. Sprint is banking on new devices and an expanded LTE footprint to reverse their declining fortunes in future quarters.
[via Sprint]