Q3 results: Sprint loses $326 million

Q3 results: Sprint loses $326 million

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Published on: 09 November, 2008 by PhoneArena Team

Q3 results: Sprint loses $326 million

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Just when you thought Sprint was coming back with a vengeance by focusing solely on its customers we find that they yielded poor third quarter results. Over the past few months, we have seen their CEO advertise their Simply Everything Plan on television in hopes of connecting with customers. They also came to realize the importance of competing with other carriers by providing PRO-rated early termination fees most recently. Those actions helped out Sprint which was awarded for having the best customer service ratings. Unfortunately though, all those actions still did not provide Sprint a profitable third quarter. Over 1.3 million wireless subscribers defected to other competitors during this period and eventually posted a $326 million dollar loss. Sprints revenue fell 12 percent to $8.81 billion when analysts expected $8.85 billion. Even with an economic downturn, Sprint is still looking ahead for the upcoming holiday season where it plans on attracting new customers. Sprint will need to come out strong for its next quarter in order to make it out alive and
beating.

source: Yahoo!


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0
1.
After years of horrible customer service and a 'if you don't like it, lump it' attitude, Sprint expected to turn it around with one quarter of 'Hey, look at me. I'm the new user-friendly CEO.'?

To be viable in this market you need three things; The best phones, the best rates and the best customer service. Sprint has yet to cross the line with this trifecta.

Sprint needs to get to market quickly with the latest and greatest phones like the Touch Pro, and stick to the announced release dates. Delays make then look incompetent. Sprint needs to recognize that most 'everything' plans these days need to have sharing built in...at a sub one hundred dollar mark. Sprint also needs to realize that 3 months of 'Mr. Nice Guy' will not erase years of 'get lost'.

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13.
did you really say trifecta??? you douchebag
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16.
Literacy is lost on people who use douchebag as an adjective.
Reply to this comment This comment is posted in response to #13 ( Show )
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17.
being a total douchebag is gained when you use the word literacy in that type of a comment
Reply to this comment This comment is posted in response to #16 ( Show )
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18.
and what you said dosen't even make sence...douchbag
Reply to this comment This comment is posted in response to #17 ( Show )
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19.
"and what you said dosen't even make sence...douchbag"

If you actually went to school instead of stalking cell phone blogs you might learn to spell. But I suspect you ride the short bus to school.
Reply to this comment This comment is posted in response to #18 ( Show )
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29.
love number 13. very original
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57.
why thank you
Reply to this comment This comment is posted in response to #29 ( Show )
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59.
i think sprint should get in a deal with walmart....
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69.
I really don't think that was a compliment. If you couldn't sense the drooling sarcasm that the comment was no doubt submerged in, then you really shouldn't even consider yourself in any sort of place to be condescending toward other vaudevillians, using such venal terms as "douchbag". However, I really shouldn't expect such a high yielding thought process from someone who has performed such a virulent violation of the English language. In view, #1 appears to have a good grasp of the vernacular, as well as a vivid understanding of the situation Sprint finds itself in. So to end this verbiage, I will conclude with a statement of equal proficiency, told with familiar twist. You sir, are a douchbag
Reply to this comment This comment is posted in response to #57 ( Show )
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2.
I'm not surprised
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3.
I've had great customer support from sprint the past few times that I contacted them. On the other hand, they will loose me to VZ because I am definitely getting the new BB Storm. If sprint had the storm, I would stay put. Here in El Paso Sprint, has great coverage all over town even in the mountain areas.

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8.
from everything ive seen, its gonna do just like the Instinct that sprint had, get a few people but fall short of the standard set by apple. i gotta admit i love that gay ass commercial for it, "everyone knows blackberry, but let me check it out..... WOOOOW. and you dont even see it. all you saw was the back of it and it looks like everyother blackberry, good advertising.
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38.
the storm could eat the instinct...
Reply to this comment This comment is posted in response to #8 ( Show )
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60.
The Storm will eat the iPhone as well. it can actually send Pix messages, VZW has a faster and MUCH MUCH larger 3G coverage area, and the business support on this phone will be better because it is a Blackberry.
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4.
I wonder how many more millions of customers they will loose once the BB storm comes out in Verizon. First they lost millions to AT&T and the iphone and now they will probably loose millions more to VZ and the Storm... How can they be so stupid (sprint) and not get the storm???

This will cost them dearly..
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5.
because vzw outbid everybody with their exclusivity contract...
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7.
Precisely. As much as Sprint probably wants to pick up the Storm, they will not be able to do so unless Verizon falls far short of its sales forecasts. Only in that case will VZW lose its exclusivity contract.
Reply to this comment This comment is posted in response to #5 ( Show )
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27.
verizon lost customers almost 3:1 to the iphone compared to sprint. i dont feel like finding the article, but i know phone arena did an article as well as the other. sprint lost not only the least in numbers, but more tellingly the least percentage-wise to the iphone. theres really no way to spin that, the instinct did its job and the storm is verizons last gasp to stop the defection to att. i believe vzw lost something like 500k customers to the iphone
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31.
i switched to att from verizon....storm or no storm verizon is the worst in my book....just my view....feel what you want.....att and sprint are both way ahead in phones.
Reply to this comment This comment is posted in response to #27 ( Show )
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32.
vzw may have lost 500k to iphone but still gained from the 2nd quarter 2.1 million positive custs. 500k cust is not that many when u consider they still gained 2.1 millions cust after the loss. and they just got approved for alltell which will make them the biggest carrier again. they are the most profitable. i phone is difficult but not the only phone in the world.
Reply to this comment This comment is posted in response to #27 ( Show )
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33.
The only reason VZ got the storm is because Blackberry was salty at ATT with the I Phone. If you look, ATT is the largest customer that Blackberry has as well as the number one seller of Blackberry phones. If ATT did not revolve around the I Phone i'm pretty sure it would be with them and not VZ. The other thing is that they can not have exclusive rights to every phone but form what I read they will have the Storm and touchscreen Bold buy spring of next year.
Reply to this comment This comment is posted in response to #5 ( Show )
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35.
hey att fanboy... apple offered the Iphone to verizon first and vodafone(which owns a stake in verizon) as well as verizon that were willing to throw almost any amount of money for any phone that would compete with the Iphone directly... It has nothing to do with RIM being mad. Do you fanboys understand how stupid of a comment it is to say well RIM was mad so they put that infront of profits? You right INTERNATIONAL companies do that all the time. Well unless they get a "I'm sorry" card and balloons... cupcakes wouldnt hurt either. Where is your info coming from that says ATT sells the most blackberries? Where does your info come from that says they are getting the Storm by X date? Do you understand that a touchscreen Bold and the Storm would be redundant? Considering they both use RIM new OS verison. What would they do not include the sweet touch interface they spent millions developing and have patents on? Please tell me more.. I love story time...
Reply to this comment This comment is posted in response to #33 ( Show )
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37.
I'd like to see that Article. Because despite the Launch of the all encompasing, world ending I-phone, Verizon still put on 1.5 million gross adds in Q3 and had less than 1% churn. ATT only put on 200,000 more and had a 1.2% churn...

Yeah, ATT is killing Verizon
Reply to this comment This comment is posted in response to #27 ( Show )
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39.
Apparently you don't know much about the cell phone industry if you think Verizon is behind both groups on the phone market......
Reply to this comment This comment is posted in response to #31 ( Show )
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45.
How many carriers will VZW have to keep buying to remain their status as the largest carrier? What ever happened to good pricing and nice devices to gain customers???? I guess they haven't thought about it like that. Instead they'll just buy everyone and overcharge their customers...
Reply to this comment This comment is posted in response to #32 ( Show )
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47.
Considering that is exactly how AT&T became the largest cell phone company. If you look over the past 2 years VZW has had more net adds than AT&T and seeing how sprint keeps losing customers... hmmm, I think verizon will stay in number one for a very very long time. Seems to me they must be doing something right.
Reply to this comment This comment is posted in response to #45 ( Show )
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55.
You do realize that in order to buy a company, you must have the revenue to do so. I am assuming they didn't pull the money out their a$$es, but rather, earn the money through great customer service, a stellar network, and as of lately, excellent devices. Perhaps if Sprint wasn't too busy losing money, they could have purchased a cellular company as well (which may not be too good for them because we all know what happened to them as a result of the merger with Nextel).
Reply to this comment This comment is posted in response to #45 ( Show )
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61.
At&T charges the same, if not more than VZW does. People need to get their facts straight before they post on these boards.
Reply to this comment This comment is posted in response to #45 ( Show )
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6.
i have sprint(:
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9.
I think that verizon should by Sprint and become the largest carrier in the world
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10.
And the service price would go to the roof!
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12.
ppl dont want vz to buy sprint bc vz will raise prices and ppl will get mad
Reply to this comment This comment is posted in response to #10 ( Show )
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23.
Witch the acquisition of Alltel, Verizon already IS the largest carrier in the world...
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28.
not even close
Reply to this comment This comment is posted in response to #23 ( Show )
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36.
Yeah that's incorrect my fellow verizon user. Its China Phone(sp?) then Vodafone and then probably a few others.
Reply to this comment This comment is posted in response to #23 ( Show )
Reply to seanb017 Hide 5 replies to this comment
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11.
I'm a Sprint customer, and I think that we might be ripe for a takeover. I'd say Verizon, but I don't see the FCC or the DOJ approving it. If they did though, I's be able to get my Blackberry Storm...
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14.
Sprint LOST
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15.
Bye, bye Nextel... R.I.P. iDEN :)
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21.
"Those actions helped out Sprint which was awarded for having the best customer service ratings"
Wow. As someone pointed out already this means nothing cuz the test was just in relation to how long people sit in hold when calling customer service. It has nothing th do with actual CUSTOMER service. Good job doing your homework again iphonearena.
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22.
It only means they hired a bunch more people to take phonecalls.
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42.
I thought that sounded starnge.
Reply to this comment
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62.
JD power says that VZW has the best customer service, and it has been that way for a while. Sprint had the highest amount of calls answered within 30 seconds or a minute or something. That does not affect the customer service received after the phone is answered.
Reply to this comment This comment is posted in response to #42 ( Show )
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