Sprint Q2: additional 111,000 postpaid accounts, best churn rate in company history

Here’s some great news out of the Sprint camp. In Q2 of 2010, Sprint added (yes, added) 111,000 postpaid subscribers to its CDMA network and had the lowest churn rate in company history, 1.85% for the quarter. This is the first time in three years that Sprint had positive net wireless subscriber growth. The company did post a net loss of $760 million or $0.25 per share. Dan Hesse, Sprint Nextel’s CEO, had this to say: “Our intense focus for the past ten quarters on improving the customer experience, strengthening our brands, and generating cash are paying off. With strong cash flow, stable OIBDA and widespread third-party recognition for the improvements we’re making in the customer experience, which in turn strengthens our brands, we feel we can confidently improve our subscriber forecasts for the second half of 2010 and deliver positive total net wireless subscriber additions for the remainder of the year.” Sprint also reminded you that their 4G service will be rolling out to eight new markets during Q3, including: Boston, Kansas City, New York, San Francisco, and Washington, D.C. Nice work Sprint.

Read