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Sprint Nextel’s Earnings Report (Q2 2007)

August 8, 2007 in Wireless Industry News

In a rare display of good news for the (often troubled) wireless carrier, Sprint Nextel today announced its results for the last quarter.

Sprint Logo

Sprint Nextel beat analyst expectiations for the second quarter.

Sprint made $19 million dollars (or $70 million, if you don’t count WiMax), or 25 cents a share – analysts expected something like 22 cents a share. So the company had no real problem beating the numbers this time around.

As for subscribers, the carrier added 373,000 new customers and lowered its churn rate (the percentage of how many people leave) at the same time. Most of the exiting customers were from Nextel which hasn’t been doing too well lately.

The company also spent $51 million dollars in startup costs related to WiMax, its signature wireless broadband internet that will cover the entire country by 2029. No, just kidding, it was more like 2010. WiMax is a cut above current wi-fi as it can cover entire cities vs. a couple hundred feet at best.

Of course, next quarter might be different: according to several sources, Sprint has a new $30 plan that includes unlimited internet, messaging, and night/weekends starting at 7. Scary.

Source: “Sprint Nextel Profit Drops on Costs” – Yahoo! AP

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