Sprint (S) on Thursday reported its results for the third quarter, revealing yet another loss for the nation’s third-largest wireless carrier. Sprint posted a net loss of $0.26 per share, or $767 million, on sales totaling $7.3 billion. The net loss is about 55% wider than the $301 million Sprint shed in the same quarter last year, but an improvement from the $1.4 billion hit the carrier took in the second quarter of 2012. Sprint shed 450,000 net subscribers but sold 1.5 million iPhones in the quarter, 40% of which went to new customers. “The Sprint platform performed well, with strong net subscriber additions, record third quarter postpaid and prepaid churn and robust revenue growth, contributing to Adjusted OIBDA of $1.28 billion even as we continue to invest in Network Vision and position the company for future growth,” said Sprint CEO Dan Hesse. “As a result, we believe we will slightly exceed the top of the range of our recently increased Adjusted OIBDA* forecast.”
Sprint loss widens to $767 million in Q3, iPhone sales total 1.5 million
Updated Oct 25th, 2012 1:07PM EDT
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
