|
Sprint Nextel Reports Quarterly Results (7/28/10)
Sprint Nextel reported that during the second quarter, the company achieved its first total net wireless subscriber growth in three years and its best postpaid churn result.
Sprint announced second-quarter consolidated net operating revenues of about $8 billion and a net loss of $760 million. The company generated $709 million of free cash flow in the quarter and maintained a strong liquidity position with approximately $4.3 billion in cash and cash equivalents at the end of the quarter after retiring all 2010 note maturities of $750 million in the quarter.
Sprint gained about 111,000 net subscribers in the quarter. The company achieved its best year-over-year quarterly improvement in postpaid gross subscriber additions in more than five years, officials said.
Sprint launched 4G service in eight new markets during the quarter. Sprint 4G is now available in 43 markets serving about 51 million people. As previously announced by Sprint’s 4G partner, Clearwire, coverage is expected to reach up to 120 million people by the end of 2010 including deployments in Boston, New York, San Francisco and Washington.
Your comments are welcome, click here.
Copyright © 2000 - 2010, Pandata Corp., All Rights Reserved.
Privacy Policy and Legal Statement.
|
