Sprint reports preliminary fiscal Q2 numbers, adds 347,000 new postpaid phone subscribers

Sprint reports preliminary fiscal Q2 numbers, adds 347,000 new postpaid phone subscribers
Sprint is beginning to gain some momentum. Back in May, the carrier reported its first operating profit in nine years. Today, the nation's third largest carrier released some preliminary numbers for its fiscal second quarter. For the three month period, total net operating revenues of $8.25 billion was a 3% year-over-year gain. Wireless net operating revenue rose almost 5% year-over-year to $7.85 billion.

Operating income for the period was $622 million compared to a $2 million loss last year. That includes a pre-tax non-cash gain of $354 million that was related to spectrum swaps carried out with other carriers. Sprint expects to report a net loss of $142 million for its fiscal second quarter compared with a $585 million net loss last year. This year's figure includes a non-cash after-tax net gain of $218 million related to the aforementioned spectrum swaps.

Sprint reported adding a net 347,000 postpaid phone accounts, doubling the additions posted last quarter. It also compares quite favorably to the 62,000 net postpaid phone additions recorded in last year's fiscal second quarter. The carrier suffered a 427,000 net loss in pre-paid customers, but did tally wholesale and affiliate net additions of 823,000.

Sprint's total platform churn dropped 2 basis points year-over-year to 1.52. Postpaid phone churn, at 1.37, was the lowest in Sprint history and was 12 basis points lower than last year's figure.

Investors do not seem terribly impressed. Sprint's shares are down 2.4% today at $6.76. The company will report the final results for the quarter on October 25th.

source: StreetInsider


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