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
Investing isn't cheap
4/25/2013 10:13:41 AM
Short version: Sprint attempts to get its e-house in order so that "unlimited" isn't a sad joke. In the past, I had a Sprint smartphone and its download capability was somewhere slower than a 56k modem.
It's working (gross revenue is up) but that costs money, so profits aren't.
I'm in no hurry to get back into the world of two-year contracts, but from this info, Sprint is turning the corner.
"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins
Sprint Closes on Acquisition of Clearwire With $80M USD Loan
February 27, 2013, 4:47 PM
Microsoft Announces the First Steps in Its "Universal Apps" Program
April 15, 2014, 7:59 PM
Amazon Fire Phone Prototype Leaks, Will Feature 3D Camera Interface
April 15, 2014, 1:33 PM
Toshiba's $1,500 Satellite P55t Notebook Supports 4K Resolution
April 15, 2014, 10:27 AM
Xbox One April Update Now Available
April 15, 2014, 9:13 AM
Windows Phone 8.1 Developer Preview Goes Live
April 14, 2014, 4:46 PM
Report: Eight More Nokia Microsoft Phones Waiting in the Wings
April 14, 2014, 2:22 PM
Most Popular Articles
Cities to Carpoolers: Sharing Your Car is Illegal, We Will Seize Your Cars
April 4, 2014, 9:17 PM
Taiwan's AOU Claims to Have World's Highest-Res. OLED Smartphone Display
April 11, 2014, 1:44 PM
iPad Exploiter is Freed by Federal Appeals Court
April 11, 2014, 7:40 PM
It's Very Likely Neanderthals and Humans Had Sex, Produced Offspring
April 10, 2014, 8:40 PM
Cops at Historically Troubled LAPD are Sabotaging Digital Recording Devices
April 9, 2014, 11:10 PM
Latest Blog Posts
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
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information