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Sprint Quarterly Results: Losses and More Losses

Posted on Monday, Nov 10, 2008 by Dieter Bohn
 
Filed Under: News; Tags: sprint

Articleimages 2008 04 Sprintfail

Sprint posted their Quarterly results for the 3rd quarter and the numbers aren't pretty. We're looking at a loss of $326 million on $8.8 billion in revenue and a loss of 1.3 million subscribers. For those of you keeping score:

  • Quarter 4, 2007: loss of $29.5 Billion (with a 'B,' but that was because of their Nextel write-off) and 683k subscribers.
  • Quarter 1, 2008: loss of $253 million and 1.09 million subscribers
  • Quarter 2, 2008: loss of $344 million and 900k subscribers
  • Quarter 3, 2008 (now): loss of $326 million and 1.3 million subscribers.

Hesse put a positive spin on things, naturally, by noting that Sprint has managed to maintain cash reserves ($4.1 billion) by managing their business operations. He also claimed that customer service has improved. Although we're fond of suggesting that Sprint be put on a deathwatch, it is worth noting that they still have just over 50 million total subscribers, so we'll hold off on that for now.

How did Sprint manage to free up so much cash? Well, first they sold off their towers and then leased the service and then they created a separate Clearwire company (a plan that's been fully approved) to handle their next-gen WiMAX network rather than incur the infrastructure costs directly. In all, it does mean that Sprint can be rather nimble in their future decisions. Here's a thought, though: could it also mean that they're an easier takeover target if things go really south?

 
 

Comments

Well, as someone enjoying my Palm Windows Mobile 700wx on Sprint, I guess my days are numbered. Apparently, Sprint is in a ambulance, Windows Mobile is be coded and Palm is in the morgue.

I am tired of the negative rumors surrounding my hardware maker, my carrier and my mobile OS dag nabbit!
Submitted by Billbeme (not verified) on Mon, 11/10/2008 - 14:50.
:( .. Well, maybe my next post will cheer you up! :D
Submitted by Dieter Bohn on Mon, 11/10/2008 - 15:31.
My company has a very large Sprint account and I have had no problems with their service for the past four years. Now their customer service is another story. It's a shame because they are very competitive in price and for me their service works great. even when I travel around the U.S.
Submitted by tcatnat (not verified) on Mon, 11/10/2008 - 15:40.
I have no loyality to Sprint as every time my contract comes up, I look around to see if there is a better priced plan and more than willing to jump ship if it will make my wallet any happier. So....with going thru that process over and over again, I have been a customer with Sprint since 1998. I have had wasted HOURS with Sprint customer service, but they have never fail to EVENTUALLY fall in my favor without exception.
Submitted by HobbesIsReal on Mon, 11/10/2008 - 17:41.
yeh but its the same old argument from Sprint loyalists (not anyone here)- check your wallets an shut up if you cant find a better deal elsewhere. Yes Sprint is cheap, not THE cheapest but cheap. But not everything is money. to some people great phone selection or CS or positive experiences even are higher indicators than saving a few bucks. Money isnt everything to most or else Sprint would be a #1 carrier so theyre OBVIOUSLY doing quite a bit wrong to have the cheapest prices and still failing while the 2 most expensive carriers are the two largest.
Submitted by klmsu19 (not verified) on Mon, 11/10/2008 - 22:52.
Loyal customer for over 10 years.
On October 18 my treo700wx stop working. I called sprint regarding the issue I was having and I wanted to see if they could help. My phone didn't have dial tone but the minutes would run even though I couldn't hear anything, logically I knew it was something wrong with the phone and needed to be exchange. The first cs representative was blaming the sprint network for my phone not working and I said it is imposible because everyone on my family has sprint and their phone is working and we all live in the same area. The cs representative said to me " I can't help you, because the problem is with the sprint network not your phone". CAN YOU BELIEVE THIS ****. I hang up and the next cs representative was very helpful and within 5mins he placed an order for a new phone under my insurance and $0 cost :). He was so helpful that he even deliver the phone to a different state where I was traveling.
THE FIRST CS REPRESENTATIVE REALLY NEED TO BE FIRED OR SOME ACTION HAS TO BE TAKEN AGAINST PPL LIKE HIM, HE WAS SO DAMN INCOMPETENT. My contract is up next month and if it wasn't because the sprint network and plans are so good, I would definitely start shopping around.
Submitted by strykernyc (not verified) on Tue, 11/11/2008 - 07:50.

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