Wednesday, February 12, 2014

Sprint Q4 2013 report

Yesterday Sprint released their fourth quarter earnings report indicating that they’ve added 477,000 new customers in the fourth quarter. This is a step in the right direction for Sprint, however, all other major wireless carriers posted more subscriber growth. Most of the new Sprint customers are opting to go with a prepaid account instead of a 2/yr contract which is evident by only adding 58,000 new contract subscribers vs. 401,000 new contract subscribers this time last year. Sprint ended up posting a loss of $1.04 billion on revenue of $9.14 billion but thinks 2014 will be their year as Sprint Spark and LTE service continues to expand. Right now Sprint covers over 200 million POP’s with their tri-band Sprint Spark service that is available now in 14 markets across the country.