Sprint Nextel posts subscriber gain; beats Street on revenue

Sprint, the third largest carrier in the U.S. reported it had lost fewer valuable contract customers in the second quarter than Wall Street expected. Sprint list 228,000 in the monthly bill paying subscribers, which is a big decrease from the expected 335,000 from Analyst predictions.

The quarterly losses rose to $760 million, or 25 cents per share, up from $384 million, or 13 cents a share the previous year – this also included a charge of 10 cents per share for deferred tax assets. Sprint shares have risen 17 percent overall since early July and were up 2.4 percent as of today.

Sprint’s move-ahead with Android, particularly the HTC EVO 4G, touting the 4G WiMax network, provided much of the help in retaining and gaining new subscribers. In addition, Sprint focus on customer service has done a 180 from not long ago.  The everything plans have really assisted Sprint in retaining subscribers while other carriers begin to charge for data or have removed unlimited data altogether. Most notably is the everything plans Sprint offers, which is the only one in the industry which allows consumers to have unlimited calling to any mobile network with unlimited data and text messaging. Churn rates have decreased and it appears that Sprint is headed in the right direction.

[via WSJ, CNN, Daily Finance]