Sprint sees best profit in 7 years in Q2 2014
Sprint has turned a modest profit this quarter, and when we say modest boy do we mean it. Sprint’s Q2 2014 numbers show that the company was able to rake in $23 million in net profit this quarter on the back of income of $519 million. That’s Sprint’s best revenue in more than seven full years, and their best net profit in almost 7 years (when excluding non-cash transactions).
Whether that’s more of a testament to how bad they’ve done over the years or how well they’re doing lately is another story. Regardless, it’s important that Sprint finds itself turning even the tiniest of profits as that’s what separates a good business from a bad one.
Sprint attributes their performance to the near-complete work done on upgrading their 3G and 4G network. That work included strengthening the former by decongesting the network thanks to getting more people onto the latter, as well as more reliable and stable signals on Sprint’s tri-band Spark spectrum upgrades. Sprint’s 4G LTE now 254 million people, and Sprint expects to reach close to the entirety of their current 3G network by the end of the year.
There will be some key things to watch as we head into the second half of this year. Reports that Sprint is ready to gobble up T-Mobile are running more rampant than ever, and that’s certainly something that could change the identity of the US wireless scene in a big way. Should that not come to pass, Sprint will have to work that much harder to compete as T-Mobile will no doubt continue to shake up the wireless industry with groundbreaking moves and force the other big three carriers to keep up in a race to the finish.