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updated: 10/25/2012 7:35 AM

Sprint loses subscribers again in 3Q

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Associated Press

NEW YORK -- Subscriber trends are turning south again for Sprint Nextel as it struggles to compete with Verizon Wireless, the juggernaut of the industry.

The country's No. 3 wireless carrier says it lost overall subscribers for the first time in two and a half years in the third quarter, as customers gave up on the moribund Nextel network and the company failed to sign up enough of them on the Sprint network.

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Sprint Nextel Corp.'s loss was $767 million, or 26 cents per share, for the July-September quarter, from a loss of $301 million, or 10 cents per share, a year ago.

Revenue rose 5 percent to $8.76 billion.

Analysts polled by FactSet expected a loss of 43 cents per share on $8.81 billion in revenue for the Overland Park, Kan., company.

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