Sprint's losses slowly thinning as they report their Q1 2010 earnings

Sprint's losses slowly thinning as they report their Q1 2010 earnings
As we've reported that both AT&T and Verizon had some less than stellar news regarding their quarterly earnings, Sprint has finally let the news out the bag regarding their performance. Not stellar by any means, especially when they didn't post a profit, Sprint's open gash is slowly closing up as they bled out less customers this time around. One bright spot is the fact that Sprint's revenues rose to $8.1 billion for Q1 2010 which is an improvement over the $7.8 billion from Q4 2009 – still, it clocked in less than the same period a year ago. Looking past the revenues and straight into profits, Sprint didn't look too good in that department as they posted a net loss of $865 million – which is again better than the $980 million loss in Q4 2009. The gaping gash that has been troublesome for the company has slightly subsided as net wireless customers fell by only 75,000 which was better than the 148,000 from Q4 2009. With Boost Mobile's aggressive nature we've been seeing of late, net postpaid customers for Sprint fell at a staggering 578,000 – despite the large drop, it's assumed that Boost Mobile has some kind of play with those figures. In the end, Sprint has yet to turn a profit as they continue to see themselves in the red, but their gaping wound has been closed up a little bit. As we approach the heat of the summer, there is no doubt that the HTC EVO 4G may turn their fortunes around.

source: Sprint via Engadget

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