Sprint Nextel has reported a 47% increase in net loss of $478m for the third quarter 2009, against a loss of $326m in the same quarter last year. Revenue was down 9% at $8.04bn. Skip related content
It made an operating loss of $1.15bn, compared to $1.8bn last year. Diluted loss per share was $0.17, compared to $0.11 last year. Free cash flow during the quarter was $664m.
The company said wireless revenue declined 8% to $6.9bn, while wireline revenue decreased 10% to $1.4bn. It said total wireless subscribers declined by 0.55 million. The total number of customers in the quarter was 48.3 million.
For the nine-month period, the company reported a net loss of $1.5bn, compared to a loss of $1.2bn last year, on revenue down 10% at $24.4bn.
Dan Hesse, chief executive at Sprint Nextel, said: "Sprint is beginning to attract more customers with a good device line-up, and seven sequential quarters of improvement in customer care satisfaction. The company generated strong cash flow, and while OIBDA was impacted by costs associated with growth in customer additions, previous quarters’ subscriber losses and certain seasonal costs in the quarter, Sprint continues to manage costs rigorously."
