Every time a new carrier starts selling the iPhone, the next quarter they invariably get headlines highlighting their earnings miss due to selling too many of them. This quarter it was [company id=’s’]’s turn. Total revenues of $8.722 were above expectations, while loss per share of $0.43 missed analyst projections by six cents. Adjusted OIBDA was $842M and free cash flow was $257M for the fourth quarter.
Wireless: Sprint sold 1.8M iPhones in the quarter, 40% of which were to new customers and the balance to their existing base. That gave them a net increase of 1.6M subscribers, the best in 7 years. They had 161K net postpaid additions. After churning for years, the iPhone is helping Sprint post some decent growth at last.
Wireline: Revenues from Sprint’s wireline business saw less deterioration than they have lately, posting revenues of $1.054B and Adj. OIBDA of $178M. Capex remained at usual levels at $34M, or just over 3% of revenue. That’s obviously steady as she goes in terms of running the business for cash flow. One wonders when they will monetize it entirely, but I have heard nothing new lately on that subject.
Categories: Financials · Wireless
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