Sprint adds over 1 million subscribers in Q3 2011, still loses contract customers ~ GoAndroid

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Wednesday, October 26, 2011

Sprint adds over 1 million subscribers in Q3 2011, still loses contract customers

11:21 PM

Simranpal SIngh

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As part of its Q3 2011 earnings report, Sprint noted that it has posted its 6th consecutive quarter of subscriber growth, adding nearly 1.3 million subscribers for the quarter, bringing its total to 53.4 million. That is roughly on par with where the company stood back in 2007.

In spite of that growth, the company still reported a net loss of 44,000 contract customers, which typically are more profitable than pre-paid subscribers.

In dollars and cents terms, Sprint managed to post its smallest financial loss in 4 years, at $301 million. It posted a loss three times as large during the Q3 period of 2010. Revenue rose 2.2 percent to $8.3 billion.

During the earnings call associated with the report, Sprint also said that it has agreed to purchase $15.5 billion worth of Apple iPhones, which is half what its commitment was rumored to be.