Sprint has posted their Q1 2012 earnings. The biggest detail of their earnings, reported by most media was an $863 million dollar loss in the quarter or 29 cents per share. That’s nearly double the $439 million dollar loss they reported in the same quarter last year. Most of that loss can be attributed to their 4G/LTE rollout and the subsidies brought on by carrying the iPhone.
The good news for Sprint is they added 1.1 million subscribers in Q1 which is more than 25% better than the 736,000 customers AT&T added for the same quarter. Of course this is significant because Sprint is the nations third largest carrier while AT&T is the second. Sprint also increased their user base to a record breaking 56 million customers. Of course a lot of this is due to the fact that the carrier brought the iPhone on in the previous quarter. Sprint also beat AT&T with post paid subscriber additions. AT&T reported the addition of 187,000 post paid subscribers while Sprint reported 263,000 post paid customers.
More after the break
Sprint has sold roughly 3.3 million iPhones since bringing the device on the network in Q4 2011.
“The continuing revenue growth on the Sprint platform, which represents the future of our company, driven by record ARPU improvement and strong net subscriber growth, contributed to our Adjusted OIBDA* performance of $1.2 billion,” said Dan Hesse, Sprint CEO. “The value and simplicity of our unlimited data, talk and text plans, combined with an unsurpassed customer experience and our increasingly robust device portfolio make for a strong combination.”
Sprint also reported that they were on track with their network vision and still on track to have their first 6 4G/LTE sites on by mid year. As we all know the Sprint Samsung Galaxy Nexus and the Sprint LG Viper both 4G/LTE capable phones, were launched Sunday two months ahead of the expected launch of 4G/LTE.
Sprint also shut down 1300 iDEN sites and planned on having 9600 iDEN sites shut down by the end of the third quarter. Sprint is using parts of the iDEN network for 4G/LTE rollout.
In customer service, a very important factor in Sprint’s business for CEO Dan Hesse, the company reported the lowest level of calls to customer care per post paid subscriber on record. Sprint was ranked by J.D. Power and Associates highest among full-service providers in its 2012 Wireless Purchase Experience Study, Volume 1. Boost Mobile was ranked highest among non-contract providers in the same study and Virgin Mobile USA received the highest ranking in the J.D. Power and Associates 2012 Wireless Customer Care Non-Contract Study – Volume 1, with Boost placing second. Both Boost and Virgin Mobile USA are Sprint owned prepaid carriers.