S&P 500 (NYSE:SPY) component Sprint Nextel Corporation (NYSE:S) reported its results for the second quarter. Sprint Nextel Corp. offers a range of wireless and wireline communications products and services.
Sprint Nextel Earnings Cheat Sheet for the Second Quarter
Results: Loss widened to $847 million (28 cents per diluted share) from $760 million (loss of 25 cents per share) in the same quarter a year earlier.
Revenue: Rose 3.6% to $8.31 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: S fell short of the mean analyst estimate of a loss of 12 cents per share. Analysts were expecting revenue of $8.3 billion.
Quoting Management: “Sprint’s second quarter results, including our fourteenth consecutive quarter of improved customer care satisfaction, our best ever postpaid churn, more than one million net wireless subscriber additions and wireless service revenue growth, validate that our focus on providing simplicity, value and an unmatched customer experience is working,” said Dan Hesse, Sprint CEO.
Revenue has risen the past four quarters. Revenue increased 2.8% to $8.31 billion in the first quarter. The figure rose 5.5% in the fourth quarter of the last fiscal year from the year earlier and climbed 1.4% in the third quarter of the last fiscal year from the year-ago quarter.
The company fell short of estimates last quarter after beating the mark the quarter before with a loss of -15 cents versus a mean estimate of a loss of 22 cents per share.
Competitors to Watch: AT&T Inc. (NYSE:T), Verizon Communications Inc. (NYSE:VZ), Clearwire Corporation (NASDAQ:CLWR), MetroPCS Communications, Inc. (NYSE:PCS), Leap Wireless Intl., Inc. (NASDAQ:LEAP), NTELOS Holdings Corp. (NASDAQ:NTLS), United States Cellular Corp. (NYSE:USM), Telephone & Data Systems, Inc. (NYSE:TDS), and CenturyLink, Inc. (NYSE:CTL).
(Source: Xignite Financials)