Sprint add 644k wireless subscribers in Q3, posts $911 million net loss

Popular CDMA carrier Sprint has posted its Q3 2010 earnings report and the results, for the most part, were mixed. Sprint had its second best quarter in company history in order of wireless subscriber additions, adding a total of 644,000 new customers. The company also noted that they saw their churn rate drop to 1.93%; down from 2.17% in Q3 of last year; basically, what this means is less customers were cancelling their Sprint contracts. Customer loyalty is always a good sign for any company.

While these numbers were positive, the actual amount of money the company brought in is still a cause for concern. Sprint posted a net loss of $911 million which translates into a net loss of $0.30 per diluted share. “Driven by record customer satisfaction, and the performance of iconic devices like the EVO and Epic, Sprint’s momentum continued this quarter,” said Dan Hesse, the company’s CEO.

Sprint is hoping to capitalize on their first-to-market 4G network and strong device lineup to have a strong holiday season and boost the wireless carrier to higher figures in Q4.

[via sprintnewsroom]

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