Sprint reports net loss of $643 million in Q1 2013

$7.1 billion in revenue, 5 million phones shipped, $29 million in operating income

Sprint reported their first quarter financial results for 2013 today, which included $7.1 billion in revenue - that's 9% up from Q1 last year, and their new all-time high. Sprint boasted that this quarter they've enjoyed the fastest year-over-year increase in operating income in more than six years: $29 million, which is up 25% from the same figure in 2012. After all was told though, Sprint still reported a net loss of $643 million, which isn't quite as bad as the $863 million loss last year, and definitely the $1.3 billion loss last quarter. 

Sprint felt it necessary to point out that 1.5 million of their 5 million smartphone sales this quarter were iPhones, because nobody cares about where the other 3.5 million phones came from, I guess? 

CEO Dan Hesse commented on the quarter's results.

"This is a transformative year for Sprint and we’ve gotten off to a good start. Record Sprint platform service revenue and subscriber levels fueled our performance. We achieved significant Adjusted OIBDA growth while investing heavily to improve our network, expanding our 4G LTE footprint and offering customers the best smartphones with truly unlimited data plans."

So, how many of you switched to Sprint last quarter? Happy with the service? Anyone interested in checking out the financial nitty-gritty can hit the source link below.

Source: Sprint