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Sprint reports Q1 2011 results, adds 1.1 million subscribers

Sprint reports Q1 2011 results, adds 1.1 million subscribers
Tim Stevens
Tim Stevens|April 29, 2011 9:33 AM
It's financials time and the word hasn't always been rosy for Sprint of late, but this time the company has some good news to share. In this, the first quarter of 2011, Sprint added 1.1 million total subscribers, 846,000 of those were prepaid, the other 310,000 postpaid. Churn was down too, 4.36 for prepaid and 1.81 percent for postpaid, lowest in five years for the former and lowest ever for the latter. Operating income was $259 million on $8.3 billion in revenue, which is up three percent from this time last year, but factor in taxes, lunar landing rights, and all the other fun stuff and the company posted a net loss of $439 million. CEO Dan Hesse called this "slow but steady progress," and the addition of subscribers "a tough streak to keep going as the bar keeps getting higher." A tough streak indeed, but the launch of phones like the Nexus S 4G might just help keep it alive for another quarter.
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