HTTP:: Sprint Posts 478 Million Net Loss for Q3
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Wireless carrier Sprint Nextel announced today its financial results for the third quarter of the ongoing year and posted net operating revenues of $8.0 billion, along with a net loss of $478 million and 17 cents per share diluted loss. According to the company, its Free Cash Flow for the time frame was of $664 million. During the same quarter a year ago, the company registered a loss of $326 million, or 11 cents a share. The revenue went down with almost 9 percent in Q3 2009, while the Free Cash Flow registered year-to-date during 2009 was of $2.1 billion. At the end of the third quarter, the wireless carrier had a total liquidity of $7.5 billion, including $5.9 billion in cash, cash equivalents and short-term investments, and also $1.6 billion in borrowing capacity. “The company again generated strong cash flow, and while Operating Income Before Depreciation and Amortization* (OIBDA) was impacted by costs associated with growth in customer additions, previous quarter!
s’ subscriber losses and certain seasonal costs in the quarter, continues to manage costs rigorously. We expect to see sequential quarterly improvement in both post-paid and total net subscriber losses in the fourth quarter of 2009,†Hesse said. When it comes to the total number of net retail subscribers Sprint h...
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