Sprint Reports Lower Financial Losses

A Sprint store in Springfield | Photo by Nicole Lunger
Nicole Lunger/Missouri Business Alert

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.

Read more from the Kansas City Star

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