Sprint posted its third quarter earnings this morning, and the results are a bit mixed.
Despite selling 1.5 million iPhones and 1 million other phones, Sprint posted a net loss of $767 million — more than twice what it lost during the same period last year. Much of the loss was due to the ongoing termination of its Nextel network and the rollout of its 4G LTE network.
It’s also worth noting that while those iPhone numbers are pretty good, they’re far behind those of AT&T and Verizon, which sold 4.7 million and 3.1 million iPhones respectively. (1.5 million is also the same number of iPhones Sprint has sold for the past two quarters, for what its worth.)
Revenue, notably, increased six percent year-over-year to $7.3 billion.
Subscriber churn was negative this time around, due, again, to Sprint’s Nextel network shutdown. As a result, while the company added 410,000 new subscribers, it lost 456,000 in total. (Notably, 59 percent of Nextel customers decided to stay Sprint customers.)
The Softbank factor is also important here, as today’s numbers come the week after Softbank announced it was buying 70 percent of Sprint for $20.1 billion. It’s likely that the company’s next set of financials will be the real ones to watch, and will be largely positive.
Sprint’s shares are flat on the earnings news, although the stock value has increased by over 11 percent since Sprint announced the Softbank news.
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