Until recently Sprint was often plagued with the worst post-paid subscriber churn among the 4 largest carriers, Verizon, AT&T, Sprint and T-Mobile. However in the 3rd quarter of 2010 they saw a post paid churn of 1.93 percent which was the best postpaid churn Sprint has ever seen in a 3rd quarter of any year. They also delivered their fourth consecutive quarter of positive postpaid subscriber growth. Their low churn rate was also the 2nd lowest in company history period.
In dollars, Sprint saw a consolidated net revenue of $8.2 billion and a liquidity of 4.7 billion in cash and cash equivalents at the end of the quarter.
Sprint also saw great improvement in customer satisfaction and first call resolution. Both areas of paramount importance to “Guy Next Door” CEO Dan Hesse. In fact this was Sprint’s 11th consecutive quarter of improved first call resolution which directly transcends to their improvement in postpaid churn. Hesse commented “The Sprint brand gained postpaid customers for the fourth consecutive quarter as, for the second consecutive quarter based on porting data, more customers switched to Sprint from our competitors than switched from Sprint to our competitors. In addition, our last two quarters have been all-time bests for postpaid churn. We also saw improvement sequentially in prepaid net adds and our lowest prepaid churn in almost five years.”
Sprint continues to rollout their Sprint/Clear WiMax product in double digit markets every quarter adding 19 new cities to their portfolio this quarter including major markets such as New York, LA and San Francisco, the latter often plagued with bad cell service from all carriers.
Sprint’s multi-brand pre-paid strategy seems to be paying off with a new focus in data products in their Virgin Mobile line and improvements in data device “smartphone” offerings with their more urban “boost mobile” line. Leap Wireles’ “Cricket” brand also announced a nationwide 3g/data roaming agreement with Sprint late in the quarter.
Sprint is currently in the middle of their multi-platform Sprint Developer’s Conference. Now in it’s 10th year, Sprint offers the opportunity for developers from across all platforms; Android, Blackberry, Cloud based, java etc to become familiar and get hands on experience with all that sprint offers to it’s customers.
Often the subject of possible take-over and merger rumors, it seems that Sprint is poised to continue to grow well into the next decade.