Sprint reports $760 million net loss for Q2, slightly less than expected
By Donald Melanson 
posted July 28th 2010 3:57PM
posted July 28th 2010 3:57PM
posted July 28th 2010 3:57PM
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How are they losing money when it seems everyone has an evo 4g
/s
Joking aside this really sucks they need to step their game up
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AT&T are destroying all the other carriers..! iPhone exlusivity baby;) Smartest business move of the century.
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@Look really?
Verizon added 1.4 million subscribers last quarter. AT&T did 1.6. Verizon DOESNT have the iphone, and is 200,000 shy. How pathetic is that for AT&T?
Mmm...maybe Vader and I should get together and kill iDEN, without iDEN losses, it would have been a sub gain of 710k
They even made a commercial and case for iPad to run on their network. Tsk tsk tsk
Sprint are you jealous of AT&T now for having iPhone.?
@Raytem
sprint saying no to the iPhone, not one of forsee's best decisions, like many others
Yeah lets just see how much longer sprint can keep its rates lower than everyone else (especially at&t). Then we will see what you sprint fangirls will have to say then. I wish this was the first comment so everyone could see it and feel the burn
Feel the downrank.
@JaZzo
Nah.... if Sprint could manage to LOSE money AND customers, EVERY quarter for 3 YEARS... I think they can mange this small turning point.. UPWARDS.
Feel the AT&T rape.
@JaZzo On the earnings call, Dan Hesse stated that Sprint plans to keep its current pricing model for while. Nice to see in light of AT&T and VZW doing all this messed up "tiered data" pricing stuff.
I just switched from Sprint to ATT so my wife could have an iphone (no, I didn't get iphone, I rather have a phone that goes for a week with single charge).
Sprint had very good network service, at least where I live. ATT is somewhat poor signal. Too bad Sprint doesn't have the device of latest fashion (iphone), I would still be with then.
@movedor "device of latest fashion (iphone)"
That about sums the iPhone up.
Works ok in Greenbow Alabama. Even works on my lawnmower. Jenny dosent like Sprint.
Heh, I work a block away from that Sprint store.
I love Sprint and my EVO.
I actually left T-Mobile for Sprint even though I was hearing bad things about them.
There REALLY should be clarification put into this entire article. I know it's already been said, but Verizon Wireless did not post quarterly losses, it's parent company did. When stating in an article that "it looks like Verizon has a bit of company at the negative end of the earnings spectrum" you need to clarify Verizon Communications "has a bit of company...", not just Verizon as this leads people to believe Verizon Wireless is in financial trouble when they're not. This is just journalistic integrity 101.
Amateur reporting Donald. Every other article on the internet about this story is either positive or impartial. How about leaving out the bias?
@Johnny Rockets
Um, Sprint losing $760 million is a FACT. Is that supposed to be a positive attribute? How is it biased, exactly, to point out a FACT? Maybe it's just that you don't like this particular FACT?
What's next, are you going to call Engadget biased if they say the sun is yellow?
@Jack
I wouldn't call them biased, however, I would ask them to check their FACTS because the sun is actually white. It only appears to be yellow when viewed through the atmosphere.
So for all of the bad things that are said about AT&T they profited billions. Everyone loves Sprint and they lose hundreds of millions. ??
@Waltah
Everyone loves Sprint? Where r u getting that from? You may love Sprint, but (I) surely hate them after trying to get out of their contract after I moved to my new place and didn't have Sprint service when I turned into my block. They just kept saying we show service in the area (just because they show it doesn't mean I get it). Then it was you need to come in for an update to ur phone(that didn't work either) and still they wouldn't let me out of the contract. I had to wait four months for it to expire and drop them like hot potatoes so I wouldn't have to pay the cancellation fee. Never again will I go back to them.
Those high number of prepaid subscriber gains on the CDMA side is good for overall subscriber numbers but these people spend much less than postpaid customers.
Soon enough it'll be Sprint Prepaid.
For everyone who's wondering how a company can report a loss and stay afloat? Don't confuse ACCOUNTING losses with real losses. Free cash flow = how much money they had left over last quarter = $700M.
They have about $1.5B in amortization and depreciation, which would make a lot of people look bad. Again, with $4B in the bank (which means they can pay off debt through 2012), they're fine as long as they stablize or grow subscribership and hold down costs.
They lose their ability to repay debt and THAT is what will force them into bankruptcy. Thankfully, it doesn't appear to be likely near term.
Two cents: one month of EVO in 2Q does not begin to show how impactful that phone will be on their earnings, I think.
> Are you on crack?
Really? This from the nut job who is foaming at the mouth about the 760 million loss.
According to the SEC filing, they have 53 billion in assets. They are rolling out 4G networks across the country. That costs money. They are investing in expanding their business. That's what business do to grow.
AT&T needs to go ahead and buy T-mobile and Verzion needs to buy sprint and be done with it. Sprint and T-mobile don't stand a chance of surviving in the long run against these two giants. I have to say though, it's a shame when sprint has better 3g coverage than AT&T. AT&T must have thought the country was going to run on 2g for the next ten years. Because they had zero 3G coverage in rural areas and still don't. If you don't live in a big city you are on the Edge network guaranteed.
Engadget has no integrity left, they don't even try to be objective anymore. Any news will be spun to make it favorable to Apple.
they would make more money if people could actually get that phone. i have many friends that still have to wait to get it.
@DoomLight
That is very true, I got mine from radio shack on launch day, and every time I have been in since (even about two weeks ago) they have still been completely sold out, I was really really fortunate to get it on launch day lol.
Evo's company can't even break even.
*Points at self* Proud Evo owner, switched from at&t for it and never looked back!
First off, Engadget posted up reports of Verizon's Q3 Losses, and No one made a big deal about it, so when they're doing an article of Sprint's losses, why is everyone getting their panties in a knot? Is it because they're the underdog? Is it because they're offering cheap plans? Let's be fair here.
Personally, i have no problems with Sprint as a company, i'd like for them to improve on their wireless service, cause if they did, No doubt in my mind that i'd use them as my wireless carrier. With that said, lets look at things from a business perspective. Everyone is praising Sprint for having affordable plans, but the reality of the situation is that they want as many subscribers as possible, so the best business option is to charge less then their competition. If Sprint were to charge what verizon/at&t is charging, why would consumers pick Sprint over Verizon when Verizon has the better network? This is all about smart business.
Verizon/At&t has the most subscribers, better network (verizon) So they don't have to charge less, cause they're still gaining with the current prices.
If Sprint was doing better than both companies and still was in fact charging less, then I think that's a bigger accomplishment, than having cheaper plans due to the fact of less subscribers.
@GodFlow
OH MY GOD!! Thank you!! I read through almost every post made on this topic and this is ONE of the few that actually seem to come from a person with common sense. It is a FACT that if Sprint charged/charges the same rates that VZ/ATT do, there would be no competition; their plan prices and their 4G network are the "cards" they have left to remain competitive. I'm all for cheaper plans and yadda yadda, but don't kid yourself by thinking that Sprint could just charge the same prices as "the big boys" (and stay alive), because it cannot.
And for people so concerned about VZ/ATT "raping" their customers, why does it matter to you? You're being the "smart" one and avoiding these traps by going with the cheaper plans and great coverage, it shouldn't even matter how well/bad the other companies are doing. Engadget (the author) told the story as they (he) saw it, you didn't have to read it. And many of you are complaining about them being biased and in another breathe are saying that other media sources are portraying this story in a positive light, isn't that being biased too? They reported facts; the readers interpret it however they want to.
Sprint is crap. If it wasn't for the evo 4g, who knows what would happen.
I've been with Sprint nearly a decade and in return they gave me a great free and clear plan. Now Sprint is saying bend over and reach for your ankles if you want a current PDA phone. My pda phone runs WM, had 3 browsers, can tether, can text, syncs with exchange and pop and hotmail. No justification on why they are taking away my plan if I want a new PDA phone just we don't offer that any more. I'll be showing Sprint the same loyalty they have shown me when selecting my next cell phone and carrier.
Sprint has better prices than AT&T and VW both carriers your paying up the ass. Who has better service? I have heard from a lot of people that AT&T has the worst coverage EVER. Not to mention sprint is upping there phones EVO 4G Epic 4g, and many more to come. Give Sprint a break. and @boe good leave. Sprint doesn't need whiny brats like you anyways