Sprint posts 77% drop in Q3 profits

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SprintOuch. Not only did Sprint make a lukewarm $64 million this quarter (versus $279 million last year), but they also withdrew their optimistic forecast for 2008.
WiMax is still on Sprint’s plate, but they were saying that in August, and didn’t do so hot that quarter either. Of course the customer service thing might be an issue, but straight-up competition from the likes of AT&T and Verizon can’t be ignored. Post-paid subscribers, who really help on the revenue front, declined by 337,000, and the report wasn’t shy to to say that 40% of those losses are from Nextel’s old coverage areas. Keep passing the buck there, guys. Pre-paid customer subscriptions went up, but churn rate for them is pretty high, which isn’t helping Sprint out much. As cute as Sprint’s ad campaigns have been, it’ll take more than that to get their numbers up again.

  • http://www.viralelectronics.com/ Viral Electronics

    Ouch. Sprint has been having problems ever sense they baught Nextel, but wow that is a big hurting.

  • http://www.viralelectronics.com/ Viral Electronics

    Ouch. Sprint has been having problems ever sense they baught Nextel, but wow that is a big hurting.

  • http://www.viralelectronics.com Viral Electronics

    Ouch. Sprint has been having problems ever sense they baught Nextel, but wow that is a big hurting.