Sprint Corporation (S) reports loss of $1 billion for the quarter

Posted Feb 11, 2014

Sprint Corporation (NYSE:S) has reported their fourth quarter earnings report for 2013. There was some good news and some bad news in the report.

The good news is that Sprint reported their highest number of subscribers ever. Sprint has 53.9 million subscribers now. Sprint added 58,000 post paid subscribers, 322,000 prepaid subscribers, and 302,000 wholesale subscribers.

The bad news is that the reported a loss of $1 billion. But this is less than the $1.3 billion that they lost in the quarter a year ago.

Sprint’s LTE now covers 200 million people and the Sprint Spark service is now used in 14 markets. Sprint is still well behind AT&T, Verizon, and T-Mobile in terms of LTE rollout, but they expect to cover 250 million people by the middle of the year. Sprint Spark is expected to hit 100 cities within 3 years.

Sprint sold 5.6 million smartphones in Q4. For the year, they sold 20.5 million smartphones. About 95% of Sprint’s postpaid customers purchased smartphones, compared to AT&T’s 93% and Verizon’s 88.9%.

Sprint is the only carrier that has not reported a profit this quarter. There are rumors that Sprint’s parent company wants to acquire T-Mobile, but regulators would likely block this from happening.

[Source: TheVerge]