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Despite $302mn Loss In Revenue, Sprint Added 173,000 Postpaid Connections

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Despite $302mn Loss In Revenue, Sprint Added 173,000 Postpaid Connections

Sprint, the fourth largest wireless carrier in the US, has added 173,000 net new postpaid customers in its first fiscal quarter, the highest new customer addition in last nine years. However, in terms of revenue, the carrier has reported a loss of $302 million. The revenue dropped to $8.01 billion from $8.03 billion when compared to the previous year.

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Commenting on the achievement, Sprint CEO Marcelo Claure said, “We had another quarter of solid progress in our turnaround with the highest first quarter postpaid phone net additions in nine years, the lowest postpaid phone churn in company history, and finally being postpaid net port positive against all three national carriers after five years.”

“We also grew wireless net operating revenue year-over-year while aggressively reducing the cash operating expenses of the business and our network is performing better than ever.”

The total net subscriber addition of Sprint stands at 377,000 in the quarter. The carrier has lost in its prepaid business, estimated at a subscriber loss of 331,000.  The wholesale and affiliate net additions stood at 528,000.

Meanwhile, CEO Marcelo Claure has hinted a price hike later this summer before iPhone 7 launch in the market. “You can expect us to come up with a new set of rate plans before the next iPhone,” Claure said. New iPhone arrives in mid-September.

Ria Lakshman. V is a lead news writer at The Telecom Times. She studied Journalism at Manipal School of Communication and proceeded to work in newspapers and magazines, with technology as her focus area. Passionate about Telecommunications sector, her move to 'The Telecom Times' was a natural choice. Alongside, she also writes for Telecom Talk, where she covers news and tech commentaries in the sector of telecom. In the free time, Ria loves to go camping, read books, or sketch illustrations. She also runs a local design studio and promotes eco-friendly crafts. Ria can be found sharing her knowledge and insights on Twitter.

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