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Sprint shares Q1 report, still making a loss with network upgrades

Sprint
By Rich Edmonds on 29 Apr 2014 08:52 am EDT
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Sprint has released its financial report for Q1 2014, which boasts a record operating income of $420 million, the company's best in over seven years. That's where the good news comes to an end as the company's report also highlights a loss of $151 million in the quarter alone, but compared to Q1 2013 this is at least a substantial improvement. The carrier is still experiencing issues with 4G LTE upgrades, more affordable plans launched and customers switching providers.

The report also states the carrier had a net loss of 231,000 postpaid customers during the quarter, which was down to network outages associated with the company's network upgrades. The prepaid sector of the business posted a net loss of 364,000 customers, which was primarily caused by alterations made to the Lifeline program recertification process, impacting customers subscribed to Assurance Wireless. This was offset by the addition of 121,000 wholesale and affiliate customers in Q1.

The report closed with the announcement that almost 3 million customers are subscribed to the Sprint Framily plan. Things aren't looking too bright for the carrier, but we'll have to see how reports shape up once network upgrades have been completed.

Source: Sprint

Reader comments

Sprint shares Q1 report, still making a loss with network upgrades

22 Comments

:(

I don't have Sprint, but I want Sprint and T-Mobile to be successful. Otherwise Verizon and AT&T are going to start charging more than they do now. These new Family Plans for four people for $160 is not because they love their customers.

I live in an area with about 300K people... but Verizon is the only carrier with truly full coverage, AT&T is usable - but Sprint and T-Mobile have many drop call problems, if you move away from the high density areas.

Verizon and AT&T weren't really driven by Sprint to lower their prices. Sprint CEO says if SprinTMO is allowed, he'll launch a price war (what's stopping him right now?) ...instead, he launches Sprint's branded prepaid service that was almost universally laughed at for being a really bad deal.

Left Sprint last year for Verizon because of the BB10 false promises they made. I loved their cheap plans but I don't know if i'd go back. The trust was lost :(

Posted via CB10

Now we know from where Verizon and AT&T are getting the new customers

Posted With My ZL1 OS:Unknown Via CB10

Oh damn! Ain't that the truth!?

Swiped via CB10 with my T-Mobile USA (Only T-Mo rep still pushing)  ‎BlackBerry Q10...oh wait a sec....its my new Z30, son! The holy grail of phones!

I was with Sprint for 6 years and left them when almost all the calls drops. I returned to Sprint by the end of 2013, to test the signal. It's improved, at least in Puerto Rico. I have a friend in Seattle, WA, and he are very sad with the drop calls.

God Bless You!

The loss is not a surprise. Their business model (ie limited coverage but unlimited data) has died as a result of expanding Wi Fi use. Expect the bleeding to continue.

Posted via CB10

Unlimited data does not help when you have no connection.

I used to love three in the UK for their 15£ a month unlimited plan until I moved and am stuck with no reception most of the time...

Posted via CB10

Are Boost/VM customers counted as wholesale/affiliate as Ting customers would be, or are they counted under prepaid numbers?

I've had Sprint for over 10 years. Moved to Florida 2 years ago. Since then I have left BB for Sammy because of false indications from Sprint. Now that I have GS4 I have had more dropped calls and coverage issues in the past year than I had in 10 years with first Nextel then BB combined. I am really looking into going to Verizon or even t mobile now. I love the plan that Sprint has. No one can touch that plan. $70 unlimited everything. Old plan I'm grandfathered in. Sprint needs to get better coverage. They are upgrading to 4G LE but I rarely get 3G. Luckily a lot of businesses have WiFi now. Kills my battery looking for service. First thing I do is look for Wifi in places.

I really hope Sprint gets it together and starts making and offering significant improvements.... if only to avoid the ultimate downfall of any of the top four wireless telecommunications service providers bringing the risk of monopolization in the sector. Monopolies have never been a friend of consumerism nor the consumer... and the more choices we have the better

I left Sprint for TMOBILE so i could get the Z10. I saved enough money to pay for the phone in a year and have just as good service.

Posted via CB10

Hope Sprint dies a slow and painful death. What was mentioned before, that what they get for signing that big deal for crappy iphones. Should have kept the full line of BB devices. Am leaving these turds for verizon so I can get the Z30. Will finally get to shoot my iphone S4 for pleasure. Thinking skeet shooting style. DIE SPRINT! YOU SUCK!!!
Forgot to mention that I will be dumping sprint after 10 years with these jerks.