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Sprint Loss Widens

published Wed, Feb 08 2012 07:40 GMT
Sprint Nextel (S) announced a wider loss for its fourth-quarter due to cost associated with offering the Apple (AAPL) iPhone to its subscribers. The company lost $1.3 billion, or 43 cents per share, versus $929 million, or 31 cents per share, in the same period last year. Revenue increased to $8.72 billion from $8.3 billion, beating analyst estimates of $8.69 billion. The iPhone did help Sprint add 161,000 subscribers during the quarter, but this fell short of analyst estimates of 272,000. The company also said that it sold 1.8 million new iPhones in the quarter, forty percent of which were purchases by new customers.

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