Sprint grows Q2 revenue to USD 8.88 billion

News Wireless United States 30 JUL 2013
Sprint grows Q2 revenue to USD 8.88 billion

US operator Sprint reported USD 8.88 billion of revenues in the second quarter, compared to USD 8.84 billion a year earlier. The company’s operating loss widened to USD 874 million from USD 629 million in the second quarter of 2012. It recorded a pretax loss of USD 1.54 billion, versus USD 1.35 billion in the year-earlier quarter.

Sprint Nextel made a USD 1.6 billion net loss in the second quarter (USD 0.53 loss per share), including approximately USD 430 million of depreciation and USD 623 million of non-cash charges related to the Nextel platform shutdown. In the second quarter of 2012, Sprint Nextel had made a net loss of USD 1.37 billion (USD 0.46 loss per share) after USD 782 million in depreciation, a USD 204 million charge for Sprint’s investment in Clearwire, and USD 184 million in non-cash charges related to the thinning of the Nextel platform.

Sprint had 53.38 million mobile customers at the end of June, including 30.45 million postpaid, 15.22 million prepaid and 7.71 million wholesale and affiliate subscribers. This compares to 51.97 million in total at the end of June 2012, with 29.43 million postpaid, 14.15 million prepaid and 8.39 million wholesale and affiliate. The Nextel platform was shut down on 30 June, with a postpaid Nextel recapture rate of 34 percent.

Sprint has reduced its adjusted OIBDA forecast for the full year to between USD 5.1 billion and USD 5.3 billion, versus its previous guidance of the high end of between USD 5.2 billion to USD 5.5 billion, which did not include the dilutive effects of the SoftBank and Clearwire transactions, now estimated at about USD 400 million. The company expects approximately USD 8 billion of capital expenditure for the full year.

Categories:

Mobile

Companies:

Sprint

Countries:

United States

Tags:

Voice services, Data services, Messaging, Sales figures, Financial figures, Wireless

Related Articles

UNITED STATES 1 OKT 2013

Sprint to retire 35% of Clearwire 12% notes due 2017

US mobile operator Sprint has received a notice to redeem USD 175 million of 12 percent secured notes due 2017 to be issued by Clearwire on 30 October. The retirement equals 35 percent of the total amount of the outstanding 2017 Clearwire notes. Around USD 325 million, or 65 percent of the total amount of the notes originally issued, will remain outstanding.

JAPAN 13 SEP 2013

SoftBank secures JPY 1.98 trln loan

Japan's SoftBank said it will sign a loan agreement with nineteen banks to refinance its bridge loan for the acquisition of Sprint Nextel and existing borrowings. The loan will total JPY 1.98 trillion and consists of two facilities: Facility A totals JPY 1.1 trillion and is due on 13 September 2018 and Facility B totals JPY 880 billion and is due on 14 September 2020. SoftBank has estimated costs associated with the loans at JPY 34.0 billion.

JAPAN 31 JUL 2013

Softbank's Q1 profit soars on eAccess, GungHo

Japanese communications carrier Softbank saw its net income soar by 125.7 percent in the first quarter ended 30 June to JPY 238.26 billion from JPY 105.58 billion a year earlier. Net sales grew 21.4 percent to JPY 881.07 billion from JPY 725.94 billion. The growth was mainly due to the impact of making GungHo Online Entertainment and eAccess subsidiaries, as well as increases in the number of subscribers and the number of units sold at SoftBank Mobile. Domestic mobile communications sales went up 26.8 perce

UNITED STATES 30 JUL 2013

Sprint launches LTE service in 41 new markets

Sprint has launched LTE service in 41 new markets, thus expanding its LTE coverage to a total of 151 markets. Using LTE service, customers in these areas can share videos, accessing the internet and play games. With the Sprint Unlimited Guarantee, available with an Unlimited, My WaySM or My All-inSM plan, customers can get unlimited talk, text and data while on the Sprint network.

UNITED STATES 12 JUL 2013

Sprint launches 'guaranteed unlimited' mobile plans

US carrier Sprint has launched the Sprint Unlimited Guarantee, which guarantees customers' unlimited fixed and mobile calls, SMS and data for the lifetime of the line of service. The guarantee applies to both new and existing customers who sign up for Sprint's 'Unlimited, My Way' or 'My All-in' plans. The new plans start at USD 80 a month and apply to all SMS, data and national calls made using Sprint's network. unlimited guarantee come into effect on 12 July. Unlimited, My Way enables customers to customis

UNITED STATES 11 JUL 2013

Sprint, SoftBank complete merger

Sprint and SoftBank have completed their merger. SoftBank invested around USD 21.6 billion in Sprint, consisting of USD 16.6 billion to be distributed to Sprint stockholders and USD 5 billion of new capital. Through the transaction, SoftBank acquired around 72 percent of Sprint shares and the remaining shares are being converted into shares of a new publicly traded entity named Sprint Corporation.

UNITED STATES 9 JUL 2013

Sprint completes acquisition of Clearwire

Sprint has announced the successful completion of its transaction to acquire 100 percent ownership of Clearwire. The merger agreement was first announced on 17 December 2012 and Clearwire shareholders approved the transaction at a special meeting of stockholders held on 8 July 2013. The transaction closed and became effective on 9 July 2013.

UNITED STATES 5 JUN 2013

Sprint to decommission iDEN network from 30 June

Sprint has announced it remains on schedule to decommission the iDEN Nextel National Network beginning at 12:01 Eastern time on 30 June 2013. iDEN devices will then no longer receive voice service, including 911 calls and push-to-talk, or data service. Sprint will shut down switch locations in rapid succession on 30 June, followed by powering down equipment and eliminating backhaul at each cell site. The last full day of iDEN service for active users will be 29 June 2013. Sprint will recycle nearly all of t

UNITED STATES 24 APR 2013

Sprint loses 415,000 mobile customers in Q1

Sprint Nextel reported a small improvement in financial results for the first quarter but suffered a net loss of customers in the period. Service revenues were little changed year-on-year at nearly USD 8 billion, as growth in the Sprint mobile brand was offset by declines at Nextel and the wireline division. Adjusted OIBDA improved to USD 1.52 billion from USD 1.21 billion a year ago, and the company posted an operating profit of USD 29 million versus a loss of USD 255 million a year ago. The net loss narro

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.