Sprint continues to lose money and postpaid customers as prepaid growth slows
On Monday Sprint reported its Q2 financial results, and nothing is overly surprising: The nation’s third largest carrier (soon to be the fourth largest, if T-Mobile gets its way) is operated with a loss of $192 million, although it had $8.5 billion of total revenue. While Sprint says that it added a net total of 590,000 customers, most of these came through its wholesale business, with the company losing 272,000 postpaid customers and only adding 35,000 prepaid customers.
Admittedly, this isn’t Sprint’s best quarter ever, but Sprint is focusing on the positive: postpaid phone gross additions grew 37 percent month-over-month in September and increased year-over-year for the first time this year. Additionally, Sprint’s LTE network now covers 260 million POPs.
Additionally, Sprint has a new transformation plan to turn the company around, continuing its network upgrades, reducing overall costs, and launching more competitive phone plans for consumers. It’s shaping up to be an interesting third quarter for the carrier.
[Sprint]
