More subscribers than ever jump to Sprint as earnings picture improves
A press release as bright and effusive as Sprint’s color palette came along with an earnings call that told of the company’s best earnings in years. The company’s already decided to make harsh reductions on its back-end, so the follow-up will have to be progressive subscriptions and sales growth. But so far, so good.
In its Q3 FY15 earnings call, the Kansas-based company reported netting 501,000 postpaid and 366,000 prepaid subscribers, improvements of about a half million on each side from last year. More postpaid subscribers jumped from competing carriers to Sprint this quarter than ever before.
The company recorded operating losses of $197 million this quarter — better than $407 million loss this time last year (that’s without a $2.1 billion impairment charge). Overland Park saw $8.1 billion in revenues, down 10 percent from last year. Net expenses were down, though, by 12 percent in the same period.
Sprint will cut at least 2,500 jobs by the end of the month. The company expects that move will do its part to increase its EBITDA for FY15 by at least $800 million. It is forecasting $9.5 billion to $10 billion EBITDA in FY16.
Sprint continues to cite Nielsen Mobile Performance data saying it has the fastest LTE download speeds in the nation.