Sprint Swings To A Net Profit, But Bleeds Customers
October 30, 2013
Sprint has announced a net profit of $383 million during the third quarter. Nonetheless, the No. 3 carrier in the United States lost 360,00 postpaid customers from July through September.
For the quarter, Sprint activated 1.4 million iPhones, which included 550,000 for new customers, or 40 percent. In total, it sold 5 million smartphones.
Sprint also announced an operating loss of $398 million, compared with $231 million a year ago. Finally, the company's net operating revenue fell 2 percent to $8.68 billion.
This was the first reporting period since Sprint was purchased by Japan’s SoftBank.
On Tuesday, Sprint added 45 new markets to its LTE map. This brought its total to 230 in the U.S.
Earlier this week, Apple announced it had sold a record 33.8 million iPhones during its fourth quarter. Last year, Apple sold 26.9 million handsets during the same time period.
See also: J.D. Power's Smartphone Satisfaction Rankings Place Apple, Samsung At No. 1, Apple's iPhone 5s Is Now The No. 1 Handset With All 4 US Carriers, and The iPhone 5s Continues To Dominate The iPhone 5c, But Its Lead Is Shrinking.