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Sprint sells 1.5 million iPhone's in Q1, loses one million customers and posts a $643 million net loss

Sprint posts $643 million net loss for Q1 2013

| Business, Financial & Legal News | Posted: Apr 24, 2013 4:51 pm

The US' third largest carrier has just posted its first quarter financial report and things are not looking very good. The company posted a positive operating revenue of $29 million, but that is about all the good news there is.

 

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Sprint says that it sold five million smartphones in Q1, which includes 1.5 million Apple iPhone's. Despite these high sales numbers, the company reported an overall net loss of $643 million, on total revenue of $8.79 billion. The company lost about one million subscribers, part of which were the direct result of Sprint beginning to shut down the Nextel network.

 

Subscribers to Sprint should not worry too much, though. The company is continuing to invest in infrastructure and has rolled out its LTE network in over 88 cities now, 30 of which were launched in Q1. The company says that it plans to continue that roll-out to another 170+ cities in the coming months.

NEWS SOURCES:Newsroom.sprint.com

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