Sprint Nextel may have the fastest 3G network in the United States, but the wireless carrier still lost 1.3 million net customers in the fourth quarter and had a churn rate of 2.16 percent. Furthermore, the company reported a net loss of $1.62 billion on revenue of $8.43 billion, a loss of 57 cents per share. Nevertheless, Sprint still beat Wall Street’s adjusted expectations of 3 cents per share. On an adjusted basis, Sprint only lost a penny per share.
For the year, Sprints lost $2.79 million or 98 cents per share on revenue of $35.6 billion.
The good news is that Sprint has enough cash to pay its debts through to the end of 2010, the company is definitely improving customer service, and of course it will be the first US carrier of the highly anticipated Palm Pre.
The question remains however: will it all be enough to turn Sprint back into a growing company?
