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sprint loses 1.3 million customers expects gains in 4th quarter


Nov 7, 2008, 10:10 AM
Sprint Nextel Reports Third Quarter 2008 Results
-- Free Cash Flow* of $1.1 billion in the quarter

-- Cash balance of $4.1 billion at the end of the quarter

-- Building momentum around Now Network(TM) and customer

-- Care Quality - first-call resolution improvement
throughout the year

-- Ready Now - a revolution in the wireless retail
experience to drive data usage

-- One Click - a simple, customizable user interface for
easy access to applications

-- WiMAX 4G - launch of a new era of high-speed mobile
internet access

-- Positioned to stabilize fourth quarter gross adds

http://investors.sprint.com/phoenix...3773&highlight= »

hope they don't just keep saying next quarter next quarter forever! Mos...

Nov 7, 2008, 10:18 AM
Sprint continues to lose customers to other carriers as the company reported a third quarter subscriber tally of 50.5 million, down from 54 million a year ago.

The company lost 1.3 million wireless customers on a net basis in the third quarter including 1.1 million post-paid. Wall Street was expecting about 1 million subscribers to leave Sprint.

Sprint’s churn rate was 2.15 percent, up from 2 percent in the second quarter (statement). That rate is well above the churn rates of AT&T and Verizon, but better than T-Mobile. Churn for Sprint’s Boost service was 8.2 percent, up from 7.4 percent in the second quarter.

T-Mobile: Churn spikes in third quarter
Verizon’s third quarter on target; iPhone dings wireless churn...

Nov 7, 2008, 11:26 AM
Wow 😳

Can they keep loosing money like this and still function? I hope we are not looking at the next Lehman Bros or Washington Mutual. I am starting to think that they are never going to turn it around. They have decent phones and industry-best plans but every quarter they loose 1 million customers. I think they might be selling their major assets by this time next year if they do not turn a corner soon.

Nov 7, 2008, 5:58 PM
I agree. They were really looking like they could turn things in the right direction; better phones, decent plans, etc but unfortunately the numbers don't lie. Another million customers jumping ship? I hate to be the pessimist but it doesn't look good. I know people have been shouting that the end of Sprint is near for a long time now but I think this may be it. I would like to be proved wrong but I think I may be right. 😢 Saddens me a little because all in all their data network is the best out there

Nov 7, 2008, 6:57 PM
Don't worry there is still hope. We can say the sky is falling if number persist like this into the middle of 09.

Barack Obama will fix it all! 🤣 🤣

Nov 7, 2008, 1:40 PM
potential upsides:

churn lowers by almost a full percentage point for pda owners

csat has increased by %20 over a full year

they closed down 11 call centers (hope they were over seas)

from my personal experience i have experienced far less complaints from the customer regarding issues across the board.

Nov 8, 2008, 8:30 PM
This whole economy is hurting look around. we are substantial by comparison.
The New ATnT Wireless

Nov 8, 2008, 10:49 PM
If Sprint's losses continue for a long period of time at this rate, I can fore see them selling everything and becoming a national MVNO.

Nov 10, 2008, 5:24 PM
The New ATnT Wireless said:
If Sprint's losses continue for a long period of time at this rate, I can fore see them selling everything and becoming a national MVNO.

That's not going to happen because in spite of the churn, Sprint is actually making money, and a much more stable company than say, GM is right now.

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