News
U.S. mobile operator’s recovery continues as revenue inches up, net loss narrows.
Sprint revealed on Tuesday that its recovery continued strongly in the quarter ended 30 September, with net customer additions coming in at 740,000.
According to preliminary results filed with the SEC, the U.S. mobile operator added 344,000 postpaid customers and 823,000 wholesale and affiliate customers, offsetting a loss of 427,000 prepaid customers.
Postpaid phone churn was 1.37%, the lowest in company history, Sprint said, improving by 12 basis points year-on-year.
In the previous quarter, Sprint added 180,000 postpaid customers and 528,000 wholesale and affiliate customers, while prepaid customers fell by 331,000. Postpaid phone churn stood at 1.39%.
Sprint’s financial performance has also improved significantly.
Revenue in the three months to 30 September came in at $8.25 billion (€7.5 billion), up 3% on the same quarter a year ago.
Sprint swung to an operating profit of $622 million, compared to a $2 million operating loss a year earlier. Adjusted EBITDA increased to $2.35 billion from $2.01 billion, while net loss narrowed to $142 million from $585 million.
Sprint will publish its full fiscal second quarter results on 25 October.
