The third largest telecom carrier in terms of subscribers,
Sprint Nextel Corporation (S), announced its quarterly results last Thursday,
posting a wider loss in the third quarter as compared to the same quarter of
the previous year. The company, which recently was part of the $20 billion deal
with the Japan-based telecom operator SoftBank (SFTBF.PK), reported a loss of
$767 million and a loss per share of $0.26, which was largely due to the
expenses incurred in regards to its Network Vision Program. Loss per share of
$0.26 is much lower than what analysts were expecting. Sprint recognized approximately
$400 million in depreciation during the quarter for the shutdown of its iDen
Nextel platform, which affected its profitability, however, its network vision
program, which involves shutting its iDen Network, is well on track, as the
number of sites that are ready for construction or already underway has doubled
to reach a total of approximately 14,000 sites.
No comments:
Post a Comment