Sprint PCS Problems Resolved
.. I hope service continues to be better than it did before. If not, you know who to contact. Joe, thanks buddy!
10-19-2004, 01:40 PM
#34
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Ruh roh.
TECHNOLOGY UPDATE: Sprint Posts $1.91 Billion Loss
October 19, 2004
TOP STORY
Sprint Posts $1.91 Billion Loss
Sprint's net loss widened sharply in the third quarter after a $3.5 billion writedown of the value of its network assets. Growth in its wireless business was offset by declines in long-distance and local phone revenue.
full story below
TOP STORY
Sprint Posts $1.91 Billion Loss
On Long-Distance Writedown
A WALL STREET JOURNAL ONLINE NEWS ROUNDUP
Sprint Corp. Tuesday reported a sharply wider net loss for the latest quarter after a $3.5 billion writedown of the value of its long-distance network.
The Overland Park, Kan., telecommunications provider posted a third-quarter net loss of $1.91 billion, or $1.32 a share, including the $3.5 billion asset impairment. A year earlier, Sprint had a loss of $497 million, or 35 cents a share, including a $1.2 billion charge.
Sprint said last week that it would reduce the value of its long-distance network, amid increased competition and regulatory changes. It also announced plans to move away from stand-alone long-distance service and would only sell it in package deals with local, Internet and wireless services.
Revenue in the latest quarter rose 3% to $6.92 billion from $6.71 billion a year earlier, led by strength in its wireless business. Executives said Sprint's wireless revenue rose 13% and accounted for 53% of total revenue. Meanwhile, its long-distance revenue fell 8.5% and local revenue fell 2% from year ago levels.
"We had a good balance of top-line and bottom-line growth, driven by very strong growth in wireless," Bob Dellinger, Sprint's chief financial officer, told analysts Tuesday. Revenue was slightly better than the Thomson First Call average estimate of $6.91 billion.
Sprint is trying to reduce dependence on long-distance services, which are suffering from price declines across the telecom industry. Sprint is seeking to make increasingly profitable wireless services a greater part of its sales.
Sprint's wireless revenue rose 12.6% to $3.76 billion in the quarter. The company added 952,000 net new wireless customers in the period, ending September with 23.2 million subscribers.
Sprint's long-distance operations are under extreme pressure as competition has intensified during the past 12 months, with MCI Inc. cutting prices to appease customers skittish about its bankruptcy, AT&T Corp. saying it would no longer lose deals on price, and regional Bells starting to sell long-distance to midsize and large businesses.
In the third quarter, Sprint's long-distance revenue fell 8.5% to $1.81 billion. Its consumer voice business declined 17%, while business voice revenue declined 7% from a year earlier.
Sprint raised its forecast for earnings and revenue for the remainder of the year. It now expects adjusted earnings per share of 84 cents to 86 cents, compared with its previous forecast of 74 cents to 78 cents, due to lower depreciation costs. It expects full-year revenue growth of 4% to 5%, rather than 3% to 4% growth.
In recent executive moves, Sprint Monday named Timothy Kelly as president of its consumer division. Mr. Kelly had served as senior vice president for the division and will oversee consumer sales, marketing and customer-care operations. He replaces Len Lauer, who had overseen the division along with his duties as Sprint's president and chief operating officer. Mr. Lauer will continue with those duties in the move, which is effective immediately.
Sprint announced earnings before the start of trading Tuesday. Sprint shares were down 52 cents, or 2.5%, to $20.08 on the New York Stock Exchange in morning trading.
Write to the Online Journal's editors at newseditors@wsj.com
TECHNOLOGY UPDATE: Sprint Posts $1.91 Billion Loss
October 19, 2004
TOP STORY
Sprint Posts $1.91 Billion Loss
Sprint's net loss widened sharply in the third quarter after a $3.5 billion writedown of the value of its network assets. Growth in its wireless business was offset by declines in long-distance and local phone revenue.
full story below
TOP STORY
Sprint Posts $1.91 Billion Loss
On Long-Distance Writedown
A WALL STREET JOURNAL ONLINE NEWS ROUNDUP
Sprint Corp. Tuesday reported a sharply wider net loss for the latest quarter after a $3.5 billion writedown of the value of its long-distance network.
The Overland Park, Kan., telecommunications provider posted a third-quarter net loss of $1.91 billion, or $1.32 a share, including the $3.5 billion asset impairment. A year earlier, Sprint had a loss of $497 million, or 35 cents a share, including a $1.2 billion charge.
Sprint said last week that it would reduce the value of its long-distance network, amid increased competition and regulatory changes. It also announced plans to move away from stand-alone long-distance service and would only sell it in package deals with local, Internet and wireless services.
Revenue in the latest quarter rose 3% to $6.92 billion from $6.71 billion a year earlier, led by strength in its wireless business. Executives said Sprint's wireless revenue rose 13% and accounted for 53% of total revenue. Meanwhile, its long-distance revenue fell 8.5% and local revenue fell 2% from year ago levels.
"We had a good balance of top-line and bottom-line growth, driven by very strong growth in wireless," Bob Dellinger, Sprint's chief financial officer, told analysts Tuesday. Revenue was slightly better than the Thomson First Call average estimate of $6.91 billion.
Sprint is trying to reduce dependence on long-distance services, which are suffering from price declines across the telecom industry. Sprint is seeking to make increasingly profitable wireless services a greater part of its sales.
Sprint's wireless revenue rose 12.6% to $3.76 billion in the quarter. The company added 952,000 net new wireless customers in the period, ending September with 23.2 million subscribers.
Sprint's long-distance operations are under extreme pressure as competition has intensified during the past 12 months, with MCI Inc. cutting prices to appease customers skittish about its bankruptcy, AT&T Corp. saying it would no longer lose deals on price, and regional Bells starting to sell long-distance to midsize and large businesses.
In the third quarter, Sprint's long-distance revenue fell 8.5% to $1.81 billion. Its consumer voice business declined 17%, while business voice revenue declined 7% from a year earlier.
Sprint raised its forecast for earnings and revenue for the remainder of the year. It now expects adjusted earnings per share of 84 cents to 86 cents, compared with its previous forecast of 74 cents to 78 cents, due to lower depreciation costs. It expects full-year revenue growth of 4% to 5%, rather than 3% to 4% growth.
In recent executive moves, Sprint Monday named Timothy Kelly as president of its consumer division. Mr. Kelly had served as senior vice president for the division and will oversee consumer sales, marketing and customer-care operations. He replaces Len Lauer, who had overseen the division along with his duties as Sprint's president and chief operating officer. Mr. Lauer will continue with those duties in the move, which is effective immediately.
Sprint announced earnings before the start of trading Tuesday. Sprint shares were down 52 cents, or 2.5%, to $20.08 on the New York Stock Exchange in morning trading.
Write to the Online Journal's editors at newseditors@wsj.com
10-19-2004, 01:52 PM
#35
Registered User
ouch, that read was confusing to me though, hahah. sounds like they are going through some changes or something?
Who makes the commercials abotu going over your mac and cheese minutes. Those are great. Not as great as Zeta-Jones, but you know...still great.
Who makes the commercials abotu going over your mac and cheese minutes. Those are great. Not as great as Zeta-Jones, but you know...still great.
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