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updated: 7/30/2013 7:31 AM

Sprint 2Q loss expands, revenue flat

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  • Wireless carrier Sprint's second-quarter losses grew while revenue held steady in its first earnings report under majority owner SoftBank.

      Wireless carrier Sprint's second-quarter losses grew while revenue held steady in its first earnings report under majority owner SoftBank.
    Associated Press

 
Associated Press

OVERLAND PARK, Kan. -- Wireless carrier Sprint's second-quarter losses grew while revenue held steady in its first earnings report under majority owner SoftBank.

Third-ranked Sprint Corp. lost more than 2 million wireless customers, primarily due to the shutdown of the Nextel network. But it gained 412,000 subscribers by buying U.S. Cellular's business in the Midwest in May.

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Sprint had 53.6 million subscribers by June's end, down from 55.2 million in March.

Net losses grew to $1.6 billion, or 53 cents per share. It lost $1.4 billion, or 46 cents per share, a year ago.

Excluding unexpected charges related to the Nextel shutdown, the adjusted loss came to 31 cents per share.

Revenue rose to $8.88 billion from $8.84 billion.

Analysts polled by FactSet expected a 30 cents-per-share loss on revenue of $8.69 billion.

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