Even with Record $7.1 Billion in Q1 Wireless Service Revenue, Sprint Still Posts Loss
April 24, 2013 9:29 AM
comment(s) - last by
Sprint CEO Dan Hesse
Despite record wireless income, Sprint still posts a loss
Sprint has offered up its earnings report for the first quarter of 2013; the wireless carrier posted wireless service revenue of $7.1 billion, the company's highest ever wireless service revenue. The $7.1 billion figure is a 9% gain year-over-year.
Sprint also posted an operating income of $29 million including accelerated depreciation of approximately $360 million. Sprint says that its adjusted Operating Income Before Depreciation and Amortization (OIBDA) of $1.5 billion was the highest in nearly 4 years even though it had made investments during the quarter.
“This is a transformative year for Sprint and we’ve gotten off to a good start,” said Dan Hesse, Sprint CEO. “Record Sprint platform service revenue and subscriber levels fueled our performance.”
Sprint's operating income of $29 million for Q1 of 2013 is a significant improvement over the $255 million loss it posted in Q1 of 2012. Consolidated net revenues for the company were $8 billion and showed no gain year-over-year. The overall net loss for Sprint was $643 million with a diluted net loss of $.21 per share for Q1 of 2013. The net loss per share in Q1 of 2012 was $.29.
Sprint says that its unlimited data and smartphones continue to drive growth for its wireless segment. 86 percent of all quarterly sales for Sprint and its postpaid handset business were smartphones. In addition, Sprint says that it sold 1.5 million iPhones during Q1 with 43% of those iPhones sold to new customers. Sprint also notes that it is on track to shut down the Nextel platform at the end of Q2 2013.
One of Sprint's significant investments during the first quarter of 2013 was the
closing of its acquisition of Clearwire
for $80 million.
This article is over a month old, voting and posting comments is disabled
If it helps
4/24/2013 12:42:32 PM
If these investments in infrastructure pay off, then Sprint will be sitting pretty. Otherwise, consumers are just going to endure the slings and arrows of Verizon (don't even get me started with the compatibility issues they have with their fiber service).
"Mac OS X is like living in a farmhouse in the country with no locks, and Windows is living in a house with bars on the windows in the bad part of town." -- Charlie Miller
Sprint Closes on Acquisition of Clearwire With $80M USD Loan
February 27, 2013, 4:47 PM
Inspiron Laptops & 2-in-1 PCs
September 25, 2016, 9:00 AM
The Samsung Galaxy S7
September 14, 2016, 6:00 AM
Apple Watch 2 – Coming September 7th
September 3, 2016, 6:30 AM
Apple says “See you on the 7th.”
September 1, 2016, 6:30 AM
Apple sued because of iPhone 6 Touch Disease
August 31, 2016, 7:00 AM
Get Ready to wait in line – iPhone 7 due September.
August 18, 2016, 7:15 AM
Most Popular Articles
5 Cases for iPhone 7 and 7 iPhone Plus
September 18, 2016, 10:08 AM
Laptop or Tablet - Which Do You Prefer?
September 20, 2016, 6:32 AM
Update: Samsung Exchange Program Now in Progress
September 20, 2016, 5:30 AM
Smartphone Screen Protectors – What To Look For
September 21, 2016, 9:33 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM
Latest Blog Posts
Who is in Risk of Getting Oral Cancer?
Sep 23, 2016, 6:02 AM
France Bans Plastic Eating Utensils in Restaurants
Sep 18, 2016, 10:49 AM
Progress Against Acute Myeloid Leukemia
Sep 17, 2016, 5:30 AM
Apple Watch Series 2 - Number 1 in the Customer Satisfaction.
Sep 7, 2016, 6:19 PM
First Self-Driving Car debut on the streets of Singapore
Aug 28, 2016, 4:10 PM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information