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Sprint posts decline in third-quarter revenue

30
Oct
2013

(Reuters) – Sprint Corp posted a decline in third-quarter revenue on Wednesday as it lost more subscribers than expected following the shutdown of its older iDen network. Sprint, the No. 3 U.S. mobile operator which is 80 percent owned by SoftBank, reported net subscriber losses of 360,000 for the quarter. Sprint reported a profit of $383 million, compared with a loss of $767 million in the year-ago quarter, before Sprint’s deal with SoftBank and its July purchase of Clearwire Corp. The company said the latest quarter was helped by a one-time, non-cash, $1.4 billion gain, net of taxes, related to its previously held investment in Clearwire.

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