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

Posted Oct 25, 2012

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 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.