Sprint Q2 2009 finances revealed: $348m net loss, 257k customers down

Jul 29, 2009
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Sprint have announced their Q2 2009 financial results, and while there are glimmers of hope in the shape of ongoing prepaid customer growth and stable post-pay revenue, the take-away figures are a loss of 257,000 customers over the three month period and a net loss of $384m on revenues of $8.1bn.  That revenue is down 1-percent from Q1 2009, and down 10-percent on Q2 2008, though Sprint did manage to pay off $700m of debt (although it still owes $16.4bn).

The figures do not include Sprint's recent acquisition of MVNO Virgin Mobile, which is estimated to cost the carrier $483m.  However subsidiary Boost Mobile puts in a strong showing, with revenue growth from its pre-pay users offset revenue declines from post-paid subscribers. 

As for the future, Sprint expect post-paid and total subscriber full-year losses to be an improvement over 2008.  They're also expecting capital expenditure to be less than in 2008, though that does not include investment in WiMAX.


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