Q3 results: Sprint loses $326 million

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!