Sprint Q3 2012 Results: 1.5 Million iPhones Sold, Rocked By Net Loss Of $767 Million

Sprint has released their financials for the quarter and unfortunately they are not yet turning a profit.  The third largest telecommunications carrier was hit with a net loss of $767 million and an operating loss of $231 million.

Fortunately this is much lower than their $629 million operating loss that they had in Q2, but it is similar to the $208 million net loss that they had in the same period last year.  Sprint hit $8.8 billion in total revenues and they had to take a hit on the $397 million write down on costs that were related to Network Vision and the shutting down of Nextel.

Sprint LogoSprint sold 1.5 million iPhones and added 900,000 users.  They also sold 1 million “LTE smartphones” in the quarter.  Sprint sold the same number of Apple iPhones in the last two quarters with around 40% going to new customers.

Sprint managed to keep 59% of former Nextel customers to stay with Sprint, which may be why the company sold around 1.2 million Direct Connect devices.  This report does not include Softbank’s $20.1 billion buy-out and their regained controlling stake in Clearwire.  Sprint’s next quarterly report will be a lot more interesting to see.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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