The nation's fourth-largest wireless carrier has long struggled to get the attention of consumers, who for years were tued off by its poor reputation for coverage and reliability. Having shored up some of those network issues, Sprint has clamoring for more attention.
The moves have paid off with a retu to growth. Sprint on Monday said it added 173,000 net new post-paid customers, or folks who have higher credit scores and pay at the end of the month, in the fiscal first quarter. That's the highest number of net new customers in nine years when excluding customers it gained from its acquisition of Nextel.
The numbers reflect the state of competition in the wireless business, where even the once battered Sprint brand can see a retu to growth thanks to the power of price cuts. Sprint is one of many carrier bending over backwards to win over your business, whether it's through lower prices, free pizzas and movies rentals or new rate plans with perks.
But as with prior quarters, that growth has come at a cost. Sprint posted a fiscal first-quarter loss of $302 million, or 8 cents a share, wider than its year-ago loss of $20 million, or 1 cent a share. Revenue slipped to $8.01 billion from $8.03 billion a year ago.
Analysts, on average, expect a loss of 8 cents a share on revenue of $8 billion, according to Thomson Reuters.
In total, Sprint added 377,000 total new customers in the quarter, which also includes a loss of 331,000 customers in its once-strong prepaid business, as well as 528,000 net new customers in its wholesale and affiliate business.
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