Sprint loses customers, bottom line
Sprint Nextel says it swung to a third-quarter loss as it continued to hemorrhage customers.
The nation’s third-largest wireless provider said Friday it lost $326 million, or 11 cents per share, during the three months ending Sept. 30. That contrasts with a profit of $64 million, or 2 cents per share, a year ago.
Excluding one-time items, the Overland Park, Kan.-based company says it would have broken even during the quarter.
Thomson Reuters says analysts it surveyed expected a profit of 3 cents per share american cash advance.
Sprint Nextel (S, Fortune 500) says revenue fell 12% to $8.81 billion. That’s below the $8.85 billion expected by analysts.
The company says it lost 1.3 million customers during the quarter.