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
Numbers don't look good but
4/25/2013 8:03:56 AM
It seems that the money they are spending is going to all the right places. They've lit off 4G service in my area recently, even though we weren't on any of the lists to get it this year. It's still a little flaky, but I've seen it in a lot of places and when I get it it's very fast.
I don't need the unlimited data aspect, but for now at least their service is the best for the money for me.
"It looks like the iPhone 4 might be their Vista, and I'm okay with that." -- Microsoft COO Kevin Turner
Sprint Closes on Acquisition of Clearwire With $80M USD Loan
February 27, 2013, 4:47 PM
Report: Apple to Unveil "iWatch" at iPhone 6 Event on September 9
August 27, 2014, 2:00 PM
Reports: Snapchat is Now Worth $10B, Cofounders are Billionaires to Be
August 27, 2014, 9:30 AM
Tim Cook Says iPad Sales Have Merely Hit a Temporary “Speed Bump”
August 27, 2014, 9:16 AM
ZOTAC Announces Diminutive ZBOX PI320 pico
August 27, 2014, 9:00 AM
Verizon Wireless' VoLTE Service Tiptoes Closer to Launch
August 26, 2014, 3:21 PM
5.5” LG G3 Stylus to Make Its Debut at IFA 2014, Will Feature Budget Specs/Pricing
August 26, 2014, 9:00 AM
Most Popular Articles
New Photos Show “Assembled” iPhone 6, Protruding Camera Ring
August 20, 2014, 2:32 PM
Leaked Qualcomm Roadmap: 20 nm 64-bit Octacore Smartphone SoCs Cometh
August 20, 2014, 11:38 AM
Microsoft's Surface 2 Tablet Family Gets a $100 Price Cut
August 25, 2014, 1:16 AM
Report: Microsoft to Announce Windows 9 on September 30
August 21, 2014, 11:20 AM
From HULC to FORTIS: the Evolution of Lockheed Martin's Incredible Exosuit
August 22, 2014, 12:45 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information