Sprint posts Q3 net loss of $326 million, sees 1.3 million subs leave
Sprint's year just keeps getting worse. After losing over 900,000 customers last quarter while posting a $344 million loss, the company insistent on advertising with faux soap operas and in black and white (and yellow) is hanging its head once more. During Q3, the carrier saw 1.3 million net subscribers head for the exits, and it also reported a loss of $326 million. According to CEO Dan Hesse, Sprint "has yet to turn the corner," warning that the process of turning things around would be gradual. Moving forward, the company expects gross additions to "stabilize," while the turnover rate is apt to remain at around 2.15%. In related news, the provider's stock price has sunk around 60% in the past six months, and while that's surely bad news to shareholders, not many other mega-corps out there are doing tremendously better.
[Via The New York Times]
