updated 10:00 am EDT, Wed April 28, 2010
Sprint Q1 2010 still negative
Sprint today reported one of its better quarters in recent memory but still faced significant losses. It saw its first quarter-to-quarter revenue increase in almost three years, up to $8.07 billion, and saw far fewer losses than it did a year ago, losing a relatively modest 75,000 customers. A total of 48.1 million subscribers use Sprint as of March.
The news nonetheless came with significant ongoing problems for the company, as its losses only grew from year-to-year to $865 million. Also, prepaid gains masked some of its actual performance as it lost a steep 578,000 regular subscribers. Turnover of customers was lower than a year ago, at 2.15 percent, but was still slightly higher than it was in the fall.
Some of the revenue gain also came from buying Virgin Mobile and counting the revenue from the sudden influx of new customers.
Sprint is still optimistic about the year as it expects its losses to shrink over the year. Most of its current hopes are pinned on the HTC Evo 4G, an extremely high-end smartphone due in the summer that will be the flagship for both Sprint's Android lineup and its WiMAX network. It may face a stiff challenge from not only other flagships like the Droid Incredible at Verizon but also the iPhone, whose summer launch on AT&T last year dampened Sprint's launch of the Palm Pre.