Sprint reports strong sales for 4th quarter, year driven by 4G LTE growth


Sprint reported fourth quarter and annual financial results today driven by record wireless service revenues. Fourth quarter net operating revenue totaled $9 billion, including $7 billion from Sprint platform wireless service. On an annual basis, the numbers were $35.3 billion and $27.1 billion respectively. This represented growth of 12 percent year-over-year for the fourth quarter and 15 percent growth for the full year.

The Sprint subscriber base grew for the eleventh consecutive quarter, helped by strong 4G LTE sales and a good recapture rate for Nextel customers as that platform was shutting down. Despite the strong revenue numbers, Sprint reported a net loss of $1.3 billion for the fourth quarter. Dan Hesse, Sprint CEO, attributes the overall loss to investments in Network Vision and the iPhone, which drove up costs.

Sprint reported they had a total of 4 million 4G LTE smartphones activated on the network as of the end of 2012. Sprint now has 15 4G LTE devices in the portfolio, including Apple devices, the LG Optimus G and the Samsung Galaxy Note II. Sprint’s 4G LTE network has launched in 58 cities and 170 more are expected to be added in the comping months.

source: Sprint

About the Author: Jeff Causey

Raised in North Carolina, Jeff Causey is a chief financial officer and licensed CPA in Durham, North Carolina. Jeff has owned an HTC EVO, a Samsung Note II, and an LG G3 along with a Samsung Galaxy Tablet 10.1. He currently uses a Motorola Moto X Pure Edition and a Nexus 7 (2013). Recently Jeff added Google Glass to his stable of tech gadgets. Unfortunately, his wife and kids have all drunk the Apple Kool-Aid and have i-devices. Life at home often includes demonstrations of the superiority of his Android based devices. In his free time, Jeff is active in his church, a local MINI Cooper car club, and his daughter's soccer club. Jeff is married, has three kids, and a golden retriever.