Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, February 7, 2013

Sprint revenue rises but subscriber numbers disappoint, (NYSE: S)

Sprint Nextel Corp, which is seeking to sell 70 percent of its shares to Japan's SoftBank Corp, posted higher fourth-quarter revenue but its subscriber numbers disappointed Wall Street.Sprint, the No. 3 U.S. mobile service provider, said on Thursday it had a net loss of 243,000 subscribers in the quarter, compared with the average expectation for a loss of 292,000 from five analysts contacted by Reuters.The subscriber loss was due to Sprint's wind-down if its Nextel network. It added 401,000 customers to the Sprint network, including 333,000 customers that moved from Nextel.Analysts were disappointed that the Sprint network was so heavily dependent on customers from Nextel for its growth. Sprint, which bought Nextel in 2005, has said it expects to shut it down by the end of June this year.

Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $5.77. 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 217070.