Sprint Streamlines Losses Even Without iPhone Sales

[Waqas 48]

Sprint beat analysts’ forecasts in its third quarter earnings report Wednesday, narrowing net losses to $301 million, or 10 cents per share, on revenue of $8.3 billion.

The wireless carrier reported losses of $911 million, or 30 cents per share, in the same period a year ago. On average, analysts had estimated a loss of 22 cents per share on revenue of $8.38 billion.

Sprint CEO Dan Hesse said that the introduction of new handsets, including three 4G devices, as well as a tighter marketing spend, helped reduce losses overall. He also pointed out that the quarter didn’t include iPhone sales, which “resulted in Sprint’s best ever day of sales in retail, web and telesales” to date.

Sprint added 1.3 million wireless subscribers, including 304,000 postpaid and 485,000 prepaid, as well as wholesale and affiliate subscriptions of 835,000.

Shares of Sprint jumped 7% in premarket trading Wednesday morning.

More About: q2 2011, sprint

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