Sprint announced results for its fiscal fourth quarter, saying net additions lifted to 1.2 million, the highest number in nearly three years, compared to net losses of 383,000 during its fiscal third quarter.
Postpaid net additions improved to 211,000 from 30,000 in Q3. The company was net port positive for the first time in nearly three years. Postpaid phone losses of 201,000 improved from 205,000 losses in Q3. Postpaid tablet net additions amounted to 349,000 from 189,000. Prepaid net additions amounted to 546,000 compared to 410,000 in Q3. Wholesale net additions went to 492,000 from 527,000. Postpaid ARPU fell to USD 56.94 from 58.90 in Q3. Postpaid churn lifted by 46 basis points sequentially to 1.84 percent, on the back of increasing credit standards, and a better network experience.
Total revenues fell 7 percent year-on-year to USD 8.3 billion on the back of lower wireless service revenues. The adjusted EBITDA declined 5 percent to USD 1.7 billion while the operating profit slid to USD 318 million from 420 million, mainly due to higher depreciation expense. The net loss widened to USD 224 million or USD 0.06 per share, from a loss the year earlier of 151 million or 0.04 per share.
Sprint expects fiscal 2015 EBITDA at USD 6.5-6.9 billion, with capex at USD 5 billion. At the end of the quarter, the company’s LTE coverage reached 87 percent of the US population, or nearly 280 million.
