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Sprint Nextel Loss Widens in Q3

Oct 29, 2009 (MarketNewsVideo.com via COMTEX) -- By MarketNewsVideo.com

Companies: AT&T Corp. (T), Palm Inc. (PALM), Sprint Nextel (S)

Sprint Nextel (S) posted a wider quarterly loss for the third quarter, of $478 million, or 17 cents per share, as compared to a loss of $326 million, or 11 cents per share, in the same quarter last year.

Sprint earnings disappointed analyst expectations, as revenue dropped 9 percent, to about $8 billion. A net 545,000 wireless customers left Sprint for other carriers, like AT&T (T) and its iPhone offerings. Sprint lost more than 800,000 valuable contract customers in the quarter. Sprint offers the Palm (PALM) Pre smartphone among its products.

Sprint shares are headed lower this morning.

The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200910Sprint102909&mv=1. 

http://www.marketnewsvideo.com/

Copyright (C) 2009 MarketNewsVideo.com. All rights reserved

News Provided by COMTEX

Companies: AT&T Corp. (T), Palm Inc. (PALM), Sprint Nextel (S)


Related terms: contract, earnings, products, revenue, video, wireless

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