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Sprint Posts $1 Billion Loss

by Todd Haselton | February 11, 2014February 11, 2014 7:00 am PST

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Sprint posted its fourth quarter 2013 earnings on Tuesday, and the results were a mix of good and bad. The carrier noted a net loss of $1 billion during the quarter, though that’s an improvement over the $1.3 billion loss it reported during the fourth quarter of 2012. Sprint’s operating revenue for the quarter was $9.1 billion. Wireless revenue increased for the 15th consecutive quarter to $7.2 billion.

The carrier also said it now has a record number of customers, noting 53.9 million subscribers at the end of the year. It added 58,000 new postpaid subscribers during the quarter, 322,000 prepaid subscribers and 302,000 wholesale subscribers. Sprint said it sold a total of 5.6 million smartphones during the fourth quarter and 20.5 million phones during the whole year. Average revenue per user (ARPU) came in at $64.07, the best ever for Sprint.

Sprint’s 4G LTE network now covers more than 200 million people in the United States, and its faster Sprint Spark network is now available in 14 markets, including Philadelphia and Baltimore which were activated on Tuesday.

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Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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