Sprint Nextel Reports Larger 1Q Loss

By: Associated Press Email
By: Associated Press Email

Stay up-to-date with KAKE News:

KANSAS CITY, Mo. (AP) -- Sprint Nextel Corp., the nation's third largest wireless service provider, says it had a larger first-quarter loss on declining revenue, continuing customer losses and a charge for job cuts announced in January.

The Overland Park, Kan.-based company said Monday it lost $594 million, or 21 cents per share, during the three months ending March 31. That compares with a loss of $505 million, or 18 cents per share, a year ago.

Not including one-time items, Sprint says it would have lost 3 cents - a penny less than analysts had expected.

It says revenue declined 12 percent to $8.21 billion - slightly below the $8.28 billion analysts expected.

Sprint says it lost a net of 182,000 subscribers.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 44292527 - kake.com/a?a=44292527
Gray Television, Inc.