Sprint posts its first + quater in three years

[eieio]

So Sprint finally did it, posted a net positive quarter, first one in three years..

Churn down to 1.85% the best ever..

Added 111K subscribes.. Good job Sprint..

Seems like the EVO and improving customer service is paying off for them

 

[Roddy]

that's great news.. with the roll out of 4G, Evo, and im proving over all customer service.. they are seeing gains..!! I hope they continue to improve their network and customer focus!!

great job sprint.

 

[eieio]

http://investors.sprint.com/phoenix....819&highlight=

Sprint Nextel Reports Second Quarter 2010 Results

Grew total wireless subscribers by 111,000 with best ever postpaid churn

Delivered positive net postpaid subscriber growth on the CDMA network and for the Sprint brand; best ever year-over-year improvement in net postpaid subscriber results

Achieved tenth consecutive quarter of improvement in Customer Care Satisfaction and First Call Resolution; recognized by American Customer Satisfaction Index as most improved company in customer satisfaction, across all industries, in the last two years

Generated consolidated Adjusted OIBDA* of $1.5 billion in the quarter; maintained strong liquidity with a cash and cash equivalents balance of $4.3 billion after retiring all 2010 note maturities; year-to-date Free Cash Flow* of $1.2 billion
The company's second quarter earnings conference call will be held at 8 a.m. EDT today.Participants may dial 800-938-1120 in the U.S. or Canada (706-634-7849 internationally) and provide the following ID: 84971063, or may listen via the Internet at www.sprint.com/investor.

OVERLAND PARK, Kan., Jul 28, 2010 (BUSINESS WIRE) --

Sprint Nextel Corp. (NYSE: S) today reported that during the second quarter of 2010, the company achieved its first total net wireless subscriber growth in three years and its best postpaid churn result ever.

Sprint announced second quarter consolidated net operating revenues of approximately $8.0 billion, a net loss of $760 million and a diluted loss per share of 25 cents, which includes a non-cash $302 million (10-cent-per-share charge) increase in valuation allowance on deferred tax assets resulting from net operating loss carryforwards generated during the second quarter, for a pro forma diluted loss per share of 15 cents. The company generated $709 million of Free Cash Flow* in the quarter, and maintained a strong liquidity position with approximately $4.3 billion in cash and cash equivalents at the end of the quarter after retiring all 2010 note maturities of $750 million in the quarter.

"Our intense focus for the past ten quarters on improving the customer experience, strengthening our brands, and generating cash are paying off," said Dan Hesse, Sprint Nextel CEO. "With strong cash flow, stable OIBDA and widespread third-party recognition for the improvements we're making in the customer experience, which in turn strengthens our brands, we feel we can confidently improve our subscriber forecasts for the second half of 2010 and deliver positive total net wireless subscriber additions for the remainder of the year."

Evidence of the company's momentum in customer satisfaction has come from a variety of sources. With accolades from American Customer Satisfaction Index, Gartner, Forrester, and Frost & Sullivan, Sprint's significant improvements in customer service are being recognized.

Sprint gained a total of approximately 111,000 net subscribers in the quarter. Demand for smartphones like HTC EVO(TM) 4G and BlackBerry(R) Curve(TM) - combined with Sprint's best ever postpaid churn of 1.85 percent - led to positive net postpaid subscriber growth of 136,000 on the CDMA network and 285,000 for the Sprint brand, and best ever year-over-year quarterly net postpaid subscriber loss improvement of 763,000. The company achieved its best year-over-year quarterly improvement in postpaid gross subscriber additions in more than five years.

 

[Roddy]

i guess this is GREAT time to invest in Sprint! lol

 

[81_]

good for them. having the hottest phone around will help, but it will be interesting to see if it continues.

personally, as an investor, if i were to jump into the wireless industry, i would buy verizon.

 

[italianwjt]

111,000 is not a lot of customers. I'm not sure how the customer service is with sprint yet but when nextel merged with sprint, nextel sucked ass. Well c how sprint customer service in the months to come. What is the 1.85% the growth in customers???

 

[B Allen]

111,000 is not a lot of customers. I'm not sure how the customer service is with sprint yet but when nextel merged with sprint, nextel sucked ass. Well c how sprint customer service in the months to come. What is the 1.85% the growth in customers???

1.85% is the percentage of customers that switched to another carrier.

 

[RoboMonkey]

111,000 is not a lot of customers. I'm not sure how the customer service is with sprint yet but when nextel merged with sprint, nextel sucked ass. Well c how sprint customer service in the months to come. What is the 1.85% the growth in customers???

Sprint has the highest customer service of any company. Its not the same Sprint from 3+ years ago.

They can only continue up from here. Heck they got me to switch from Tmob and my trusty G1.

 

[brownhornet]

111,000 is not a lot of customers. I'm not sure how the customer service is with sprint yet but when nextel merged with sprint, nextel sucked ass. Well c how sprint customer service in the months to come. What is the 1.85% the growth in customers???

Its not a lot.. but when you look at how many customers Sprint LOST over the past 4 quarters its actually great.

 

[81_]

just doing some more digging

post paid -228,000
pre paid +173,000
Wholesale/affiliate +166,000

but the most intersting thing that i saw in the press release was...

we are encouraged by the customer response to Assurance WirelessSM, our government-subsidized program for qualified customers who need reliable wireless service,” Hesse said.

i assume that these phones fall into the prepaid/affiliate group. i'd also be curious to the count


at the end of the day, i'm not impressed with the results.

 

[LS1]

Good Lord.

2nd Quarter Results. Evo, and 4G have no effect on 2Q results.

 

[81_]

just for compairison

Verizon added 665,000 post paid customers.

i would not invest in Sprint and once the LTE network is up, i will give serious considerations to switching providers when my S contract is up.

 

[81_]

Good Lord.

2nd Quarter Results. Evo, and 4G have no effect on 2Q results.

Camaro or Corvette LS1?

i think they had an effect. if the first quarter they had lost 578,000 post paid customers.

 

[Rigmaster]

Looks good considering Evo was not included in these numbers. 3Q should be even stronger.

 

[81_]

Looks good considering Evo was not included in these numbers. 3Q should be even stronger.

The begining of EVO sales are in those numbers. EVO started selling June 4th, quarter ended June 30th.

The real question is how many of those EVO sales are from new customers vs. current customers upgrading? The upgrades are nice, but the new customers are better.

 

[LS1]

camaro or corvette ls1?

I think they had an effect. If the first quarter they had lost 578,000 post paid customers.

gto

 

[eieio]

just doing some more digging

post paid -228,000
pre paid +173,000
Wholesale/affiliate +166,000

but the most intersting thing that i saw in the press release was...



i assume that these phones fall into the prepaid/affiliate group. i'd also be curious to the count


at the end of the day, i'm not impressed with the results.

-------------------------------------

On the postpaid side, Sprint lost 228,000 customers as a result of 364,000 defections from the Nextel network and the shutdown of the acquired Helio service.

-----------------


Nextel is bleeding customers.. All the defects are from nextel and helio service being shut down, They do need a plan of action for the Nextel side pronto

 

[Rigmaster]

Wonder what impact the 30 days has on these numbers? Seems like it would artificially inflate churn if customers are booked as postpaid subscribers before 30 days are up.

Nextel and Helio will drag things down for a while. I think Sprint should consider offering some type of incentive to get people transitioned over to Sprint. Other acquisitions tend not to be given the opportunity to stay on the fringe so long. Sprint should have made a tough call like this years ago when signs of faultering began to look long-lasting.

 

[EarlyMon]

Hey, I came from Helio and they handed me something like 50 or 100 bucks extra off my Moment.

They didn't need to do that - no way I was leaving the Sprint network and I'd already selected the Moment.

So they call me one and ask me what it takes for me to finally switch over.

I asked, whatcha got? - and here I am.

The real thing that Sprint screwed the pooch on in getting people over from Helio:

They insisted we could not use our Helio phones because they weren't compatible.

Uh. OK. So, I'm happy as a clam, walking around getting great 1xRTT service on an Ocean and a VERY COOL Samsung flip phone, paying Helio the same rates as Sprint, I'm on the Sprint network - and I even had all of the sekrit numbers from both phones and the key sequences - and they told me NO.

Those phones, while simple, were tough as nails and worked _great_. And for those playing along at home - of course they were perfectly compatible - we were already on the Sprint network. We even had all of the extra Sprint email/sms/mms/text-to-land features and a Sprint email ID, even though they didn't tell Helio customers that.

All I wanted to really do was to hold on to those phones, stay with Sprint, and then upgrade when I was sure the right Android phones were there for me.

Device greed cost them a lot of Helio customers, I have no doubt whatsoever.

You wanna keep customers? You give them a migration path, not a slap of cold water where you have change everything at once.

 

[Rigmaster]

Hey, I came from Helio and they handed me something like 50 or 100 bucks extra off my Moment.

They didn't need to do that - no way I was leaving the Sprint network and I'd already selected the Moment.

So they call me one and ask me what it takes for me to finally switch over.

I asked, whatcha got? - and here I am.

The real thing that Sprint screwed the pooch on in getting people over from Helio:

They insisted we could not use our Helio phones because they weren't compatible.

Uh. OK. So, I'm happy as a clam, walking around getting great 1xRTT service on an Ocean and a VERY COOL Samsung flip phone, paying Helio the same rates as Sprint, I'm on the Sprint network - and I even had all of the sekrit numbers from both phones and the key sequences - and they told me NO.

Those phones, while simple, were tough as nails and worked _great_. And for those playing along at home - of course they were perfectly compatible - we were already on the Sprint network. We even had all of the extra Sprint email/sms/mms/text-to-land features and a Sprint email ID, even though they didn't tell Helio customers that.

All I wanted to really do was to hold on to those phones, stay with Sprint, and then upgrade when I was sure the right Android phones were there for me.

Device greed cost them a lot of Helio customers, I have no doubt whatsoever.

You wanna keep customers? You give them a migration path, not a slap of cold water where you have change everything at once.

Good points, and sorry to hear it's been so negative for you. Sprint's big mistake though was acquiring incompatible carriers and then running them as-is in the background. I used to have Nextel for business - the phone service was not good but the talkie was great. I just don't think talkie alone is a good business reason to have kept Nextel hanging out there.

I can tell you that when ATT acquired other carriers and renamed itself Cingular, it was fairly easy to get a new phone at $0 as long as you stayed on contract. Come to think of it, they even let people stay month-to-month who'd fulfilled their existing contracts as long as they picked up compatible phones (at a subsidized price).

I wish Sprint would have just done a one-time charge/program to convert existing customers and then abandoned the other networks. But in the end, I think Spint kept them out of fear that spectrum would not be available.

 

[firetruck41]

Engadget's headline was slightly different: Sprint reports $760 million net loss for Q2, slightly less than expected -- Engadget

 

[djkleric]

Engadget's headline was slightly different: Sprint reports $760 million net loss for Q2, slightly less than expected -- Engadget

Engadget sensationalizes. Also they are talking about money, not subscribers. Hell Verizon also lost money in the quarter. Did you even read that story?

 

[81_]

k

 

[firetruck41]

Engadget sensationalizes. Also they are talking about money, not subscribers. Hell Verizon also lost money in the quarter. Did you even read that story?

Sure I read it. Did you read the title of this thread? "Sprint posts its first + quater in three years". Generally, when it comes to business, what matters is money, the post title does not say it is the "first quarter for positive subscriber growth". When I first opened the thread, I was expecting to see some article showing Engadget had bad info, but that was not the case. So I posted the article showing how most of the world views Sprints 2nd Q. I fail to see how that is sensational. I hope every success for Sprint, as I intend to buy an Epic, and defect from Verizon.

 

[djkleric]

Yes I did read the title of the thread. But I am also some one that reads about the stock market. Hence I already knew what he was talking about