Sprint Corp. lowered its financial losses in the first three quarters of this year compared with the same period last year, but posted higher subscriber losses.
The Overland Park, Kan.-based wireless carrier said its net loss totaled $151 million, down from the $643 million loss it suffered in the first three months of 2013. Subscriber losses totaled 467,000, which was up from 415,000 a year ago, in what is typically a weak quarter for the wireless industry.
The company attributed the customer loss rate to its somewhat disruptive network upgrade projects. The company, like its larger rivals AT&T and Verizon, likely was hit by No. 4 T-Mobile US Inc.’s aggressive campaign to attract subscribers by agreeing to pay their early termination fees at other carriers. Sprint launched a similar program that expires next month.