Google IO 2015 Coverage

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