Share “Sprint posts big 4Q loss, revenue rises”

Sprint posts big 4Q loss, revenue rises

Published on NewsOK Modified: February 7, 2013 at 12:20 pm •  Published: February 7, 2013

Sprint activated 2.2 million iPhones in the quarter, a record for the company, reached with the help of the new iPhone 5. The figure is far below those posted by bigger competitors AT&T and Verizon Wireless, but helps Sprint keep subscribers. It still lost a net 243,000 customers on contract-based plans in the quarter, as subscribers kept streaming off the Nextel network, which Sprint is shutting down.

Network chief Steve Elfman said the upgrade of the company's cell towers is on schedule despite the ravages of Superstorm Sandy. The company has lit up "LTE" antennas, which provide higher data speeds, in 58 cities and plans to light up another 170 in coming months. Verizon Wireless and AT&T got started on LTE earlier and have bigger networks up and running.

Sprint shares slipped 7 cents to $5.70 in afternoon trading. The previously volatile shares have been trading in a relatively narrow band between $5.40 and $6 since the Softbank deal was announced in October. The price reflects what Softbank is set to pay.