Sprint's iPhone gamble still isn't paying off as it loses 360,000 customers in a quarter

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Steve Dent
October 30th, 2013
In this article: earnings, financials, Q3, Q3-2013, sprint
Sprint's iPhone gamble still isn't paying off as it loses 360,000 customers in a quarter

STUB Sprint earnings

Sprint has managed to shrink its operating losses to $398 million for Q3 23013 compared to $1.6 billion last quarter on a record $8.7 billion in revenue. However, despite now having 230 US LTE markets as of yesterday including Queens and Manhattan, the operator managed to lose 360,000 all-important postpaid subscribers. In exchange, it only picked up 84 thousand prepaid and 181 thousand wholesale customers. On a positive note, Sprint said it sold 1.4 million iPhones during the quarter, including about 550,000 to new customers as part of its all-in bet on the handsets. It added that 92 percent of its new postpaid customers purchased higher-margin smartphones. Those stats helped boost its total revenue per postpaid customer to a new high -- now it just needs to think about how to retain them.

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