Sprint Announces Loss of Net Profit, Subscribers

Sprint Nextel Corp. reported its first decline in total subscribers since March 2010 and posted a loss of $767 million for its third quarter.

There was no mention of the earnings announcement of Japanese wireless carrier SoftBank Corp., which is attempting to purchase a 70 percent stake in the company.

The Overland Park-based wireless telephone company said it lost 423,000 subscribers during July, August, and September, leaving it with 55.9 million total wireless customers. Its decline broke a string of nine quarters of subscriber growth.

Read more on Kansas City Star and Kansas City Business Journal.

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