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Sprint loses $1 billion but adds 682,000 customers to reach its highest totals ever

News by Andrew Kameka on Tuesday February 11, 2014.

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Sprint lost money during the fourth quarter of 2013, but the nation's third-place carrier gained hundreds of thousands of new customers, the second most important metric of its business. Sprint revealed that it had a net loss of $1 billion in the quarter, an improvement from the $1.32 billion lost during the same period in 2012. The costs of migrating its networks to newer technologies and consolidating Clearwire cut into the carrier's revenues, so the plans to save money were not as effective as Sprint hoped.

Sprint won't sit around feeling sorry about results because the company reported its highest ever customer total. Sprint added 682,000 customers, the vast majority of which were through its prepaid brands, Boost and Virgin, and wholesale subscribers on MVNOs. The carrier had only a 58,000 net addition of postpaid subscribers. Sprint now has 53.9 million customers on its network, the largest in the carrier's history.

Consumers purchased 5.6 million smartphones from Sprint last quarter, bringing the total number of sales in 2013 to 20.5 million. Smartphones accounted for 95 percent of purchases among postpaid subscribers.

Sprint CEO Dan Hesse declined to comment on speculation that the carrier might attempt to purchase T-Mobile, but he did reiterate his stance that carrier acquisitions by companies other than AT&T and Verizon would be "healthy" for the wireless industry.

source: Sprint

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Andrew Kameka
Andrew is based in Miami, Florida.

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