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Thursday, February 7, 2013

Sprint revenue rises but some customer numbers lag, (NYSE: S)

Sprint Nextel Corp, which is seeking to sell 70 percent of itself to Japan's SoftBank Corp , posted higher fourth-quarter revenue on Thursday but its subscriber numbers fell short of some Wall Street targets.Overall, the No. 3 U.S. mobile service provider had fewer-than-expected subscriber losses, but analysts were disappointed with growth on its Sprint network. It is shutting its Nextel network by the end of June.It added 401,000 Sprint customers in the quarter, including 333,000 that moved from Nextel, but analysts were disappointed it depended so heavily on Nextel customers."I would rather they grow the Sprint business faster than they did and shut down the Nextel business faster," said Hudson Square Research analyst Todd Rethemeier, who had expected the company to add 600,000 Sprint customers in the quarter.

Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 1.04% or $-0.06/share to $5.71. In the past year, the shares have traded as low as $2.20 and as high as $6.04. On average, 37266500 shares of S exchange hands on a given day and today's volume is recorded at 21828302.