Latest in 2011

Image credit:

Sprint posts Q2 2011 earnings: net subs up, contract subs down, net loss of $847 million

Darren Murph
07.28.11
Share
Tweet
Share
Save

Sponsored Links

It's another mixed bag worth of earnings for the folks in Overland Park. Sprint just announced its Q2 2011 earnings prior to the market's open today, and while it's obviously doing its darnedest to paint a rosy picture, the raw numbers show a somewhat different backdrop. Despite having its third consecutive quarter of adding more than one million total net new wireless subscribers, the vast majority of those are coming from the (admittedly less lucrative) prepaid side. In fact, the company lost 101,000 postpaid subscribers in the period, and we're guessing that the one-two punch of WiMAX hitting the expansion skids while VZW built out LTE at a breakneck pace didn't help matters. 674,000 prepaid subs were added to the mix (through Virgin Mobile, Boost Mobile, etc. arms), and despite seeing quarterly sequential and year-over-year growth in wireless service revenue, the carrier still reported a net loss of $847 million. In a way, it's the same story on a different day for The Now Network, and while the just-announced LightSquared partnership may end up bolstering things in time, it'll take something a bit more jarring to turn things around by Q3. Or Q4... right, Dan?

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share
Save

Popular on Engadget

The 2019 Engadget Holiday Gift Guide

The 2019 Engadget Holiday Gift Guide

View
HP rejects Xerox buyout offer, at least for now

HP rejects Xerox buyout offer, at least for now

View
TikTok's owner may be readying a streaming music service

TikTok's owner may be readying a streaming music service

View
Google Maps will help you discover cities by following Local Guides

Google Maps will help you discover cities by following Local Guides

View
President Trump will visit Apple's Mac Pro factory on November 20th

President Trump will visit Apple's Mac Pro factory on November 20th

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr