Sprint posts $255 million loss in Q1, adds 263,000 net subscribers
Sprint posted its first-quarter financial results on Tuesday ahead of the bell. Analysts were anticipating another rough quarter, and Wall Street’s consensus had the nation’s No.3 carrier losing $0.42 per share on revenue of $8.71 billion. The numbers are now in, and Sprint reported a loss of $0.29 per share on $8.73 billion in sales, beating analysts’ expectations. Sprint’s subscriber count was also in the spotlight ahead of Tuesday morning’s earnings report, and estimates suggested Sprint would shed anywhere from 22,000 to 125,000 net subscribers. Sprint has now confirmed that it beat expectations by a huge margin, having added 263,000 net subscribers during the quarter thanks to iPhone sales totaling 1.5 million units. The carrier posted a massive $1.3 billion loss in the fourth quarter last year though the addition of Apple’s iPhone helped it add 1.6 million net subscribers, and it reported a loss of $439 million while adding 310,000 net subscribers in the first quarter of 2011.
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