Sprint starts drawing customers back, but makes a loss of $20 million
Sprint has released its financial report for the first fiscal quarter, posting a net positive in subscriber addition, as well as hitting the lowest churn rate in the company's history. While Sprint has managed to start turning things around, it's unfortunately not enough to compete against T-Mobile.
In the quarter just passed, Sprint managed to add a total of 675,000 new customers, a strong reversal from the previous year where the company managed to report a net loss of 220,000. The postpaid churn rate was 1.56 percent, improving by 49 points year-over-year. Compared to T-Mobile, which reported a total addition of 2.1 million, Sprint still has some way to go.
It's not all positive in the report, however as Sprint made a loss of $20 million this quarter, and operating revenue dropped from $8.79 billion to $8.03 billion. If you'd like to read more about Sprint's performance for the quarter, do check out the full report using the link below.
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