News by Andrew Kameka on Wednesday October 30, 2013.
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Sprint, the third-largest carrier in the United States, released its earnings for the third quarter of 2013. The Now Network reported that it lost thousands of customers and millions of dollars thanks to a challenging period in which it shutdown networks and acquired new bandwidth.
Sprint lost more than 360,000 contract customers last quarter. The carrier expected to lose customers after the shutdown of its Nextel iDen network in June, and CEO Dan Hesse said that 60 percent of those customers opted not to stay with Sprint.During the same period in 2012, Sprint gained nearly 900,000 customers.
Thanks to some accounting moves related to Sprint acquiring Clearwire, Sprint had a net income of $383 million. Looking only at its operational finances, which were also affected by costs related to acquisitions, Sprint had a net loss of $398 million. The carrier reported an operating loss of $231 million during the same period last year.
Despite the disappointing operating losses, Sprint has been encouraged by its expanding 4G LTE network and the hope that a stronger network will strengthen its pitch to attract new consumers with Truly Unlimited plans. The carrier is stressing unlimited data plans and smartphones to customers, sharing the following stats:
- 5 million smartphones sold
- 1.4 million iPhones sold, 40 percent to new customers
- 92 percent of phone sales are for smartphones
Andrew is MobileBurn.com's managing editor. He is based in Miami, Florida.