Sprint Still Losing Money – and Subscribers

While Sprint awaits their merger fate, they recently released their quarterly earnings. In a statement, CEO Michel Combes said Sprint remains “optimistic” the merger with T-Mobile would ultimately be approved.

I continue to believe the merger with T-Mobile is the best way to deliver the benefits of competition to American consumers,

Combes commented.

Post-paid net additions actually went up – from 309,000 in the prior year’s quarter to 494,000.  In addition, it added 609,000 post-paid customers including those opting for data-only devices, but phone subscriber losses also grew  – from 26,000 in fiscal Q3 2018 to 115,000 – a massive increase.

On the prepaid side – net losses also increased – by 1,000 – to 174,000 from 173,000. The company actually lost less money ($120 million from $141 million) but total revenue also was down ($8.1 billion from $8.6 billion) and a similar decline in wireless service revenue from $5.4 billion to $5.2 billion.

Sprint noted network improvement efforts continued in the quarter. The operator said had deployed 37,000 small cells, up from 27,000 in fiscal Q3 2018 – and by the end of December, its 5G network had been expanded to cover 20 million people in nine metro areas, up from 16 million people in October 2019 —

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