Sprint has released its Q3 2012 earnings today, and things aren't looking too great. Right off the top, Sprint posted a $767 million net loss for the quarter on $7.3 billion in revenues. That's an increase in losses from the previous year, where Sprint only lost $301 million. Revenues, fortunately, are up 6-percent year-over-year.
Now onto the good (or at least better) news. A large portion of this quarter's losses can be blamed on accelerated depreciation of assets mostly related to Sprint's "Network Vision" project. On the customer side, Sprint postpaid subscriber numbers were up (for the 10th consecutive quarter), and churn was down. It also noted that the carrier surpassed the 1 million LTE smartphone sales number prior to the iPhone 5 launching, which Sprint sold nearly 1.5 million of.
You can take a look at the full press release at the source link below.
Source: Sprint Newsroom
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Andrew was an Executive Editor, U.S. at Android Central between 2012 and 2020.