John Paczkowski

Recent Posts by John Paczkowski

Sprint Paring Losses Almost as Quickly as Subscriber Base

Sprint Nextel has been hemorrhaging subscribers like Dan Ackroyd’s exsanguinating Julia Child for the past several quarters and its latest one was no different. Announcing fourth-quarter results that, remarkably, came in ahead of expectations, the much diminished wireless carrier said it lost 1.27 million customers during the period, for a loss of 4.58 million subscribers in 2008. Sprint ended the year with 49.3 million wireless customers, down 8.4 percent from 53.8 million customers at the end of 2007.

Ugly.

That said, Sprint’s (S) fourth-quarter net loss was narrower than expected–excluding write-downs, it came in at one cent per share, beating analysts’ expectations of a loss of three cents per share. According to Sprint CEO Dan Hesse, there’s some hope in that. “Subscriber losses and revenue declines are obviously unacceptably high,” he said during the company’s earnings call. “But it takes time for perceptions about our customer care and financial stability to catch up to the reality.”

Indeed.

Hopefully, the debut of Palm’s (PALM) new Pre handset later this year will do something to further that. Company expectations for it are clearly quite high. Said Hesse, “We are bullish about the potential for this device.”

Sprint’s long-suffering shares rose 64 cents, or 24 percent, to $3.35 in early morning trading.

PREVIOUSLY:


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December 30, 2013 at 6:49 am PT

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik