Sprint reports profit despite declining subscriptions

Photo by Nicole Lunger/Missouri Business Alert
Nicole Lunger/Missouri Business Alert

Sprint posted a rare profit in the first quarter of its fiscal year, recording net income of $23 million, but the Overland Park, Kan.-based wireless provider saw subscriber numbers fall by 334,000, to 54.6 million. The net income and Sprint’s operating income of $519 million were the company’s best in more than seven years, the company announced press release.

Sprint has almost finished projects such as its upgrades of its 3G and voice networks and expansion of 4G LTE service, Sprint CEO Dan Hesse said in the release. However, the company is using price cuts and beginning to offer service plans without unlimited data access to compensate for losses caused by update-related service disruptions.

Read more from the Kansas City Star

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